Lahore, October 20, 2021 (PPI-OT):Faysal Savings Growth Fund (or the “Fund”) reflects the Fund’s moderate risk profile, at Jun’21. The fund had allocated ~42% as cash placements in banks having rating A+ and above, ~15% of assets are placed in PIBs and the remaining assets of ~30% were invested in TFC’s/Sukuks. The offering document of the fund allows it to invest in banks rated ‘BBB’ and above.

The duration of the Fund remained 62 days, at Jun’21. The unit holding pattern of the Fund is highly concentrated with top ten investors representing ~84%, keeping the redemption pressure to high level. Going forward, the Fund intends to reduce its asset allocation in banks to invest in government securities. Material changes in the Fund’s 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