Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has announced the maintenance of the stability rating for the AKD Islamic Income Fund, a Shariah-compliant investment vehicle with a medium risk profile. The fund aims to provide capital enhancement and regular halal income to investors through strategic investments in Shariah-compliant income avenues.

As of the end of June 2025, the fund's asset allocation included approximately 41.04% in Government of Pakistan Ijarah Sukuk, 17.95% in cash, and 17.67% in short-term Sukuk. Other allocations were 10.12% in Sukuk, 7.65% in bank placements, non-bank financial companies (NBFCs), and development finance institutions (DFIs), with the remaining 5.57% in other assets including receivables.

In terms of credit quality, the fund allocated about 41% in government securities, with the rest distributed across various credit ratings: 11% in AAA-rated avenues, 25% in AA, 16% in AA-, 1% in A+, and 6% in unrated avenues. The fund's weighted average maturity was reported at 464 days at the end of June 2025.

PACRA noted that any significant changes in the fund's investment policy or adherence to the rating criteria could affect its ratings in the future.