PACRA Maintains Stability Rating of AKD Cash Fund

AKD Cash Fund (‘AKD CF’ or the ‘Fund’) reflects the Fund’s low risk profile. The investment objective of the Fund is to provide optimum returns consistent with minimal risk from a portfolio constituted of highly secure (‘AA’ and above) short-term debt instruments such that the WAM of its net assets will stay below 90 days. At the end-December 2024, in perspective of asset allocation, the exposure in T‐bills was ~69.92%, ~23.67% in Cash, and ~4.69% in GoP Ijarah Sukuk, the remaining ~1.72% in others. From credit quality standpoint, the Fund had invested ~75% in Government Securities, ~22% in AAA rated avenues, ~1% in AA+, and ~2% in unrated avenues. As of end-December 2024, the Fund’s Weighted Average Maturity (WAM) stood at 70 days, reflecting a short-term investment approach consistent with its liquidity objectives and intended to help manage tenor and rollover risk. The Duration, at 70 days, indicates a limited sensitivity to interest rate changes, supporting a relatively stable risk profile in the context of prevailing market conditions.
Going forward, any material changes in the investment policy and compliance with the rating criteria for the assigned rating would have an impact on the ratings.

About the Entity
AKD Investment Management Limited commenced its operations in September 2004. The Company is registered as an Asset Management Company under the Non-Banking Finance Companies Rules, 2003. The Company is sponsored by AKD Group Holdings (Private) Limited [Formerly: Aqeel Karim Dhedhi Securities(Private) Limited] (99.97% ownership). The Board of Directors of the Company comprises seven members, including the CEO Mr. Imran Motiwala, who has been serving as the Chief Executive Officer of AKD Investment Management Limited since 2009. The Company is currently managing eight open-end funds with assets under management of ~PKR 9,752mln at the end of Dec'24.