PACRA Maintains Stability Rating of Faysal Islamic Special Income Fund

Faysal Islamic Special Income Fund (“FISIF” or “the Fund”) is a medium risk profile fund. To provide competitive regular return with capital preservation on investments as per respective allocation plans by investing in authorized investable avenues in line with the risk tolerance of the investor. As of Dec ’25, the Fund’s AUM stood at ~PKR 273.2mln, up from PKR 165.2mln at the time of Jun ’25, reflecting notable growth in fund size during the period while maintaining the Fund’s investment strategy. In terms of asset allocation, the Fund maintained ~76.35% in Cash holdings, followed by ~22.29% in GoP Ijarah Sukuk, while the remaining ~1.36% was allocated to other instruments including receivables. The allocation reflects a liquid strategy with a significant tilt toward sovereign exposure. From a credit quality perspective, ~75.01% of the portfolio was invested in AA rated avenues, ~22.29% in Government Securities, and ~1.33% in A rated instruments, with the remaining ~1.37% allocated to other categories. This composition indicates moderate credit risk exposure with a strong tilt toward high-grade instruments. At end-Dec ’25, the Fund’s WAM (Weighted Average Maturity) stood at 208 days, reflecting moderate exposure to interest rate movements. In terms of performance, the Fund reported a 1-year trailing return of 9.81% as of Dec ’25, which remained below the benchmark return of 10.06%, indicating underperformance relative to its benchmark.
Going forward, any material changes, in the investment policy, and/ or compliance with rating criteria for the assigned rating would have impact on the ratings.

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, investment advisory services, REIT management services and Private Equity and Venture capital funds. The Board of Directors of the Company comprises seven 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 the Director and 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.