Lahore: The Pakistan Credit Rating Agency Limited (PACRA) has upheld the stability rating of the ABL Government Securities Fund (ABL GSF), a medium-risk income scheme. As of December 2025, the Fund's assets under management increased to PKR 5,980 million from PKR 5,077 million in June 2025, showcasing growth and consistent investor interest. The Fund invests primarily in a mix of short- and long-term government securities and other debt instruments, maintaining a high-quality credit profile with 99% of assets in government securities and AAA-rated instruments.
According to PACRA, the asset allocation strategy of the Fund includes approximately 51% in Treasury Bills, 22% in Pakistan Investment Bonds, and 26% in cash, ensuring a balance between liquidity and duration exposure. The Fund's weighted average maturity is 91 days, allowing it to manage interest rate risks effectively while capturing returns across different tenors. The investment pattern shows moderate investor concentration, with the top 10 investors holding 46% of total units. Notably, pension and provident funds hold 17% of the Fund, contributing to its stable investment behavior and manageable redemption risk.
The Fund delivered a one-year annualized return of 11.17% as of December 2025, slightly surpassing its benchmark return of 11.11%. This performance is attributed to its diversified exposure to government securities and effective duration management. However, any significant changes in investment policy or compliance with rating criteria could affect the Fund's rating in the future.