PACRA Maintains Stability Rating of Alfalah Islamic Amdani Fund

Alfalah Islamic Amdani Fund (“AIAF” or “the Fund”) is a low-risk profile Fund operating under the Shariah-compliant money market category. The Fund aims to provide competitive returns while meeting investors' liquidity needs through daily dividend distributions by investing in low-risk and highly liquid Shariah-compliant money market instruments. As of Jun'26, the Fund's AUM stood at approximately PKR 14,403mln, up significantly from approximately PKR 3,844mln as of Dec'25, reflecting substantial growth in Fund size during the period. In terms of asset allocation, the Fund maintained approximately 73.3% in cash placements, followed by 13.1% in Islamic TDRs and 11.9% in short-term Sukuks/ICPs, with the remaining exposure allocated to other instruments. The allocation reflects a highly liquid portfolio, consistent with the Fund's money market mandate and focus on meeting investors' liquidity requirements. From a credit quality perspective, approximately 70.8% of the portfolio was invested in AA+/A1+ rated avenues, followed by 16.2% in Government Securities/AAA rated avenues and 11.3% in AA/A1 rated instruments, with the remaining portion allocated to other categories. The Fund's credit quality remains strong, supported by substantial exposure to highly rated and sovereign instruments. At end-Jun'26, the Fund's WAM stood at 19 days and duration stood at 7 days, reflecting low exposure to credit and interest rate movements. The short WAM and duration are consistent with the Fund's low-risk profile and money market investment strategy. The top-ten unit holding concentration stood at 55.7%, indicating a moderate level of redemption concentration. However, potential redemption pressure remains manageable given the Fund's sizeable investments in cash and highly liquid instruments. In terms of performance, the Fund reported a 12-month trailing return of 11.71% as of Jun'26, which remained above both the benchmark return of 10.46% and the peer average return of 10.55%, indicating outperformance against both its benchmark and peer average.
Going forward, any material changes in the investment policy and/or compliance with the rating criteria for the assigned rating would have an impact on the ratings.

About the Entity
Alfalah Asset Management Limited (Formerly: Alfalah GHP Investment Management Limited) was incorporated on October 18, 2004 as an unlisted public limited company and is licensed by the Securities and Exchange Commission of Pakistan to manage open-ended mutual funds and offer investment advisory services. The Company was established as joint venture Non-Banking Finance Company by Bank Alfalah Limited and GHP Arbitrium. The Company provides a wide range of mutual funds and pension funds both in conventional and Shariah compliant category. The Company also provides investment advisory services to HNW individuals and corporate clients. The Company’s board of directors comprises eight members including the Chairman (Mr. Atif Aslam Bajwa) and the Chief Executive Officer (Mr. Khaldoon Bin Latif). The board is dominated by representatives of MAB Investments and Bank Alfalah Limited. The board has two independent and five non-executive directors. The board members possess strong profile and skills suited to the financial services industry. Assets under management of the Company stood at ~PKR 356bln at end Jun'26.