KARACHI: The Pakistan Credit Rating Agency Limited has assigned an initial stability rating to the Alhamra Islamic Investment Savings Fund, highlighting its medium-risk profile and focus on generating halal income through Shariah-compliant investments. Launched on June 5, 2026, the Fund has shown strong initial growth, with assets under management reaching PKR 22,856 million by August 2026, reflecting investor confidence in its Shariah-compliant offerings.

According to PACRA, the Fund's portfolio is primarily liquid, with 99.3% of assets allocated in cash and A+ rated instruments, ensuring capital safety and a robust liquidity position. The Fund's weighted average maturity of one day indicates minimal sensitivity to interest rate changes. Despite a high concentration of holdings among the top 10 investors, the Fund's liquid asset allocation and short maturity period offer strong assurance of meeting redemption demands. It has also outperformed its benchmark with an annualized return of 11.47%, surpassing the benchmark return of 9.45% by 202 basis points. Changes in investment policy or rating criteria compliance could impact the Fund's stability rating in the future.