PACRA Maintains Stability Rating of Askari High Yield Scheme

The Askari High Yield Scheme Fund ('AHYSF' or the 'Fund') maintains a moderate risk profile. The objective of the Fund is to provide investors an opportunity to make competitive returns from fixed income securities while targeting a portfolio duration of six months. The assigned rating reflects the Fund's moderate risk profile, which stems from its investment policy framework. As of Dec'24, the AUM size of the Fund stood at ~PKR 307mln. In terms of asset class, ~44% was allocated to bank placements ~21% in TFC's, while the remaining was invested in others. In perspective of credit quality, the Fund had invested ~20% in A+ rated, ~21% in AA+ rated and the remaining was invested in others. As of Dec'24, the Fund’s duration of 15 days suggested limited susceptibility to interest rate risk. In contrast, its Weighted Average Maturity (WAM) of 551 days pointed to elevated credit risk. Furthermore, the Fund’s investor base remains highly concentrated, with the top 10 investors accounting for 83% of units—a structure that amplifies redemption risk and potential liquidity challenges.
Going forward, any material changes in the investment policy and/or compliance with the rating criteria for the assigned rating would have an impact on the ratings.

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 a majority owned subsidiary of Pak Oman Investment Company Limited (99.46%). The remaining shareholders include 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 Limited, Mr. Nauman Ansari. The board’s chairman H.H. Sayyid Juland Jaifar 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 nine open end funds as of Dec'24 belonging to all major categories. The AUMs of the Company stood at ~PKR 2,353mln at the end of Dec'24.