Karachi: The Pakistan Credit Rating Agency Limited has maintained the stability rating for the NBP Mahana Amdani Fund, a moderate risk profile fund that aims to minimize risk, preserve capital, and generate reasonable returns. The fund's AUM increased to approximately PKR 38,250 million by the end of December 2025, up from PKR 7,306 million in June 2025, reflecting a significant growth in fund size while adhering to its investment strategy.

According to The Pakistan Credit Rating Agency Limited, the fund's asset allocation strategy includes approximately 75% in cash holdings, 17.7% in bank placements, 3.2% in T-Bills, and 3% in MTS, with the remaining portion in other instruments such as receivables. This allocation strategy emphasizes liquidity and a conservative approach. From a credit quality perspective, the portfolio is predominantly invested in AAA rated avenues (67.1%), followed by A+ rated instruments (23.5%), Government Securities (3.2%), MTS (3%), and AA- rated avenues (2.1%).

The fund's weighted average maturity (WAM) and duration stood at nine days as of December 2025, limiting its exposure to interest rate and credit risk. However, the unit holding pattern remained concentrated, with about 70.99% of units held by the top 10 investors. The fund reported a 12-month trailing return of 11.10%, matching its benchmark return for the same period.

Future changes in the fund's investment policy or the rating criteria could impact its ratings, as noted by the rating agency.