The Pakistan Credit Rating Agency Limited
12-Jun-25
Analyst
Usama Ali
usama.ali@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA
PACRA Maintains Stability Rating of Pak Oman Daily Dividend Fund
| Rating Type | Stability Rating | |
|
Current (12-Jun-25 ) |
Previous (23-Dec-24 ) |
|
| Action | Maintain | Maintain |
| Long Term | AA(f) | AA(f) |
| Short Term | - | - |
| Outlook | Stable | Stable |
| Rating Watch | - | - |
Pak Oman Daily Dividend Fund ('PODDF' or the 'Fund') is a low-risk profile fund. The investment objective of Pak Oman Islamic Daily Dividend Fund is to meet liquidity needs of investors by providing investors, a daily payout through investment in Islamic Short-term instruments. The assigned rating reflects the Fund's strong credit and interest rate risk profile emanating from its investment strategy. Regarding asset allocation, the Fund had invested ~81.84% in Cash, with the remainder in other assets and receivables, as of end-March'25. In terms of credit quality, the Fund allocated ~81.23% to AAA-rated instruments, ~1.52% to AA, and the remaining as unrated, at the end-Mar'25. The Fund's Duration and Weighted Average Maturity (WAM) both stood at 1 day, reflecting low credit risk exposure. The unit holding pattern of the Fund, at the end-Mar'25, stood at ~10% representing top 10 investors concentration, which is very low redemption risk.
Going forward, any material changes in the Fund's asset allocation strategy, which could impact the Fund's credit quality and exposure to interest rate risk, would remain critical for the rating.
About
the Entity
Pak Oman Asset Management Company Limited was incorporated on July 28, 2006 as a public unlisted company. It is licensed by the Securities and Exchange Commission of Pakistan to carry out asset management and investment advisory services under the Non-Banking Finance Companies Regulations. The company is ~99.46% owned subsidiary of Pak Oman Investment Company Limited and the remaining shareholder is Oman International Development and Investment Company, SAOG (0.54%). The Company’s Board of Directors comprises six members including the managing director of Pak Oman Investment Company, Mr. Nauman Ansari. The board’s chairman H.H Juland Jaifer Salim Al-Said has over 15 years of experience at the Oman Investment Authority (OIA) (Previously known as State General Reserve Fund). The Company’s diverse product slate includes multiple open-end funds as of Mar'25 belonging to all major categories.