PACRA Maintains the Rating of Faysal Savings Growth Fund

Faysal Savings Growth Fund ("FSGF" or the "Fund") reflects the Fund's moderate risk profile. The investment objective of the Fund is to generate competitive returns by investing primarily in debt and fixed income instruments having investment grade credit rating. The rating reflects the moderate strength of the funds credit and interest rate risk profile. At the end Jun'23 the fund had allocated ~8.64% in government securities (PIBs & GOP Ijara sukuks), ~29.68% in Bank deposits majorly in AA- rated and above, ~54.22% in TFC/Sukuks majorly in AA+. The Duration of Fund stood at 84 days exposing the fund to Interest rate risk. The WAM stood at 683 Days exposing the fund to credit risk. Faysal Savings and Growth Fund (FSGF) yielded an annualized return of 15.91% relative to its benchmark of 18.33%. The Fund's unit holding pattern remains moderate concentrated with the top 10 investors comprising ~68.46% of the Fund's net assets equally distributed, keeping redemption pressure to a moderate level.
Going forward, Material changes in the funds asset allocation strategy, impacting its credit quality and/or exposure to interest rate risk, would affect the rating.

About the Entity
Faysal Funds (Faysal Asset Management Limited) is a subsidiary of Faysal Bank Limited (FBL). FBL is holding 99.99% shares of Faysal Funds. Faysal Funds was incorporated in Pakistan under the Companies Ordinance, 1984 on August 6, 2003 as an unlisted public limited company and is licensed by the Securities and Exchange Commission of Pakistan to carry out asset management and investment advisory services.
The Board of Directors of the Company comprises five members, including the Mr. Yousaf Hussain has over 26 years of professional experience, primarily at ABN AMRO Bank where he held multiple senior managerial positions including those within the Corporate / Credit and Transaction Banking functions. He has been with Faysal Bank since August 2008, with a significant contribution to the franchise. Mr. Nadir Rahman is CEO and he has extensive, hands on experience of capital markets in Pakistan and internationally, stretching over 32 years, of which 16 years have been in C level positions, including board level experience with listed, unlisted, and international companies. His core areas of expertise are business development, operations, investment management, M&A and corporate restructuring. He has advised on numerous capital market transactions, including the largest de-listing in Pakistan’s history. The Company is managing a diversified portfolio of funds, with AUMs of ~PKR 98.2bln at the end of Jun'23.