Lahore, April 14, 2023 (PPI-OT): Alfalah GHP Sovereign Fund (“ASF” or the “Fund”) is a medium-risk profile Fund. The investment objective of the Fund is to provide an investment medium whereby investors can participate in a portfolio that will seek to generate competitive income. The rating reflects moderate strength of the Fund’s credit and interest rate risk profile. At the end Dec’22, ~39.4% of Funds were invested in PIBs, ~24.20% in T-bills while ~14.6% invested in Bank, ~11.2% in TFC/Sukuk, ~6.9% in CPs and ~3.7% in Others.
The duration of the Fund stood at 159 days at the end Dec’22, exposing the Fund to moderate interest rate risk. The WAM of the Fund stood at 515 days exposing the Fund to a high level of credit risk and mark-to-market losses.
The unit holding pattern of the Fund represented by the top ten Investors by 83.46%; giving rise to a high level of redemption pressure. Material changes in the funds asset allocation strategy, impacting its credit quality and/or exposure to interest rate risk, would affect the rating.
For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com