Lahore: The Pakistan Credit Rating Agency Limited (PACRA) has reaffirmed the stability rating for the NBP Islamic Mahana Amdani Fund, citing a maintained medium risk profile amidst growing assets under management and a diversified investment strategy. The fund aims to provide monthly income through Shariah-compliant investments in money market and debt avenues.

According to PACRA's press release, the Fund's assets under management increased to approximately PKR 11,736 million by December 2025, up from PKR 10,711 million in June 2025. The growth in fund size underscores its ability to uphold its investment strategy. The asset allocation strategy reveals a balanced mix of liquidity and income-generating instruments, with 50.80% invested in cash holdings, 21.60% in placements against Bai Muajjal, and 16.70% in GoP Ijarah Sukuk, among others.

The fund's credit quality remains moderately exposed to risk, with investments spread across various rating tiers. Approximately 33.80% of the portfolio is in A+ rated avenues, 26.70% in AAA rated instruments, and 16.70% in government securities. The fund's duration and weighted average maturity stood at 37 and 163 days respectively, indicating low interest rate sensitivity and a balanced maturity profile. The unit holding pattern is diversified, with the top 10 investors holding around 16.55% of units.

Despite its growth and diversification strategies, the fund reported a 12-month trailing return of 9.70% as of December 2025, slightly underperforming its benchmark return of 10.10%. Any future changes in investment policy or rating criteria could impact the fund's stability rating.