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Outstanding Ratings

Sr.No Entity Sector Rating Type Dissemination
Date
Action Rating Outlook Rating Watch
1 JS Rental REIT
Press Release | Report | History
Infrastructure Rental REIT Fund 02-Jan-26 Maintain A+(rr) Positive -
2 Pak Oman Micro Finance Fund
Press Release | Report | History
Capital Markets Stability Rating 01-Jan-26 Maintain A-(f) Stable -
3 JS Fixed Term Munafa Fund II
Press Release | Report | History
Capital Markets Stability Rating 30-Dec-25 Initial AAA(f) Stable -
4 Mahaana Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 26-Dec-25 Maintain AA+(f) Stable -
5 Alfalah Financial Sector Income Fund
Press Release | Report | History
Capital Markets Stability Rating 24-Dec-25 Maintain A+(f) Stable -
6 Alfalah Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 24-Dec-25 Maintain AA(f) Stable -
7 Alfalah Islamic Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 24-Dec-25 Maintain AA+(f) Stable -
8 TPL REIT Fund I
Press Release | Report | History
Infrastructure REIT Fund Rating 23-Dec-25 Maintain RFR 3+ Developing Yes
9 NIT Government Bond Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AA(f) Stable -
10 NIT Income Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AA-(f) Stable -
11 NIT Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AA-(f) Stable -
12 NIT Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AAA(f) Stable -
13 JS Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA+(f) Stable -
14 Golden Arrow Stock Fund
Press Release | Report | History
Capital Markets Performance Ranking 11-Dec-25 Same 3-Star -
15 AKD Islamic Stock Fund
Press Release | Report | History
Capital Markets Performance Ranking 11-Dec-25 Same 2-Star -
16 AKD Opportunity Fund
Press Release | Report | History
Capital Markets Performance Ranking 11-Dec-25 Same 2-Star -
17 Alhamra Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA(f) Stable -
18 Pak Oman Daily Dividend Fund
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA(f) Stable -
19 Alhamra Cash Management Optimizer
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA(f) Stable -
20 JS Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA-(f) Stable -
21 JS Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA+(f) Stable -
22 JS Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA(f) Stable -
23 JS Income Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain A+(f) Stable -
24 JS Microfinance Sector Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain A(f) Stable -
25 JS Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA(f) Stable -
26 ABL Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 04-Dec-25 Downgrade AA(f) Stable -
27 IMM Project One Development REIT Scheme
Press Release | Report | History
Infrastructure REIT Fund Rating 04-Dec-25 Preliminary RFR 3 Stable -
28 Atlas Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
29 Pak Qatar Asan Munafa Plan under Pak Qatar Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
30 Pak Qatar Cash Plan under Pak Qatar Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
31 Pak Qatar Daily Dividend Plan under Pak Qatar Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
32 Pak Qatar Income Plan under Pak Qatar Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA-(f) Stable -
33 Pak Qatar Khalis Bachat Plan under Pak Qatar Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain A(f) Stable -
34 Pak Qatar Monthly Income Plan under Pak Qatar Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain A+(f) Stable -
35 AL Habib Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Nov-25 Maintain AAA(f) Stable -
36 Faysal Islamic Special Income Fund
Press Release | Report | History
Capital Markets Stability Rating 21-Nov-25 Maintain AA(f) Stable -
37 Faysal Halal Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 21-Nov-25 Maintain AA(f) Stable -
38 AKD Aggressive Income Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain A+(f) Stable -
39 AKD Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain AA+(f) Stable -
40 AKD Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain AA(f) Stable -
41 AKD Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain AA-(f) Stable -
42 786 Smart Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Nov-25 Maintain AA-(f) Stable -
43 Alfalah GHP Income Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA-(f) Stable -
44 Alfalah GHP Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA+(f) Stable -
45 Alfalah Islamic Rozana Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA(f) Stable -
46 Alfalah GHP Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA-(f) Stable -
47 Alfalah GHP Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA+(f) Stable -
48 Alfalah GHP Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA-(f) Stable -
49 Alfalah GHP Income Multiplier Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain A+(f) Stable -
50 AWT Financial Sector Income Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain A+(f) Stable -
51 AWT Income Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain A+(f) Stable -
52 AWT Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain AA+(f) Stable -
53 AWT Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain A+(f) Stable -
54 Faysal Islamic Asset Allocation Fund
Press Release | Report | History
Capital Markets Performance Ranking 06-Nov-25 Improved 4-Star -
55 Lucky Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 04-Nov-25 Maintain AA+(f) Stable -
56 Lucky Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 04-Nov-25 Maintain AA(f) Stable -
57 MCB Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Nov-25 Upgrade AA(f) Stable -
58 Lakson Income Fund
Press Release | Report | History
Capital Markets Stability Rating 31-Oct-25 Maintain A+(f) Stable -
59 Lakson Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 31-Oct-25 Maintain AA(f) Stable -
60 Lakson Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 31-Oct-25 Maintain AA+(f) Stable -
61 Atlas Income Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA-(f) Stable -
62 Atlas Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA-(f) Stable -
63 Atlas Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA(f) Stable -
64 Atlas Liquid Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA+(f) Stable -
65 Atlas Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA+(f) Stable -
66 Atlas Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA-(f) Stable -
67 Al Ameen Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA(f) Stable -
68 Alhamra Islamic Money Market Fund (Formerly: MCB Pakistan Frequent Payout Fund)
Press Release | Report | History
Capital Markets Stability Rating 24-Oct-25 Maintain AA+(f) Stable -
69 Pakistan Income Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA(f) Stable -
70 Alhamra Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA(f) Stable -
71 Alhamra Daily Dividend Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA-(f) Stable -
72 Pakistan Income Enhancement Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain A+(f) Stable -
73 MCB Pakistan Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA-(f) Stable -
74 MCB DCF Income Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA-(f) Stable -
75 MCB Cash Management Optimizer
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA+(f) Stable -
76 Pakistan Cash Management Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA+(f) Stable -
77 AL Habib Income Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA(f) Stable -
78 AL Habib Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA+(f) Stable -
79 AL Habib Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA(f) Stable -
80 AL Habib Islamic Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA(f) Stable -
81 Alfalah Asset Allocation Fund (Formerly: Faysal Asset Allocation Fund)
Press Release | Report | History
Capital Markets Performance Ranking 21-Oct-25 Withdraw - -
82 Alfalah Stock Fund - II (Formerly: Faysal Stock Fund)
Press Release | Report | History
Capital Markets Performance Ranking 21-Oct-25 Withdraw - -
83 Alfalah Special Savings Plan-I (Formerly: Faysal Special Savings Plan - I)
Press Release | Report | History
Capital Markets Capital Preservation Rating 21-Oct-25 Withdraw -
84 NBP Riba Free Saving Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
85 NBP Mahana Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA-(f) Stable -
86 NBP Government Securities Plan - IV
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
87 NBP Income Opportunity Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
88 NBP Islamic Government Securities Plan – III
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
89 NBP Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
90 NBP Islamic Mahana Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
91 NBP Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
92 NBP Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
93 NBP Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
94 NBP Financial Sector Income Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
95 NBP Government Securities Liquid Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AAA(f) Stable -
96 NBP Government Securities Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA-(f) Stable -
97 NBP Islamic Daily Dividend Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA+(f) Stable -
98 NBP Islamic Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA-(f) Stable -
99 ABL Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 16-Oct-25 Maintain A+(f) Stable -
100 ABL Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain AA+(f) Stable -
101 ABL Financial Sector Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain A+(f) Stable -
102 ABL Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain AA-(f) Stable -
103 ABL Income Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain A+(f) Stable -
104 ABL Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain AA+(f) Stable -
105 MCB Investment Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Oct-25 Initial AA+(f) Stable -
106 Pak Qatar Islamic Stock Fund
Press Release | Report | History
Capital Markets Performance Ranking 30-Sep-25 -
107 ABL Islamic Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 30-Sep-25 Maintain AA(f) Stable -
108 NBP Islamic Sarmaya Izafa Fund
Press Release | Report | History
Capital Markets Performance Ranking 25-Sep-25 Same 3-Star -
109 NBP Sarmaya Izafa Fund
Press Release | Report | History
Capital Markets Performance Ranking 25-Sep-25 Same 4-Star -
110 NBP Balanced Fund
Press Release | Report | History
Capital Markets Performance Ranking 25-Sep-25 Same 3-Star -
111 NBP Stock Fund
Press Release | Report | History
Capital Markets Performance Ranking 25-Sep-25 Same 4-Star -
112 NBP Islamic Stock Fund
Press Release | Report | History
Capital Markets Performance Ranking 25-Sep-25 Same 3-Star -
113 First Capital Mutual Fund
Press Release | Report | History
Capital Markets Performance Ranking 25-Sep-25 Same 3-Star -
114 ABL Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 25-Sep-25 Maintain AA+(f) Stable Yes
115 Askari High Yield Scheme
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain A(f) Stable -
116 Pak Oman Income Fund (Formerly Pak Oman Government Securities Fund)
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain A+(f) Stable -
117 Pak Oman Advantage Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain A+(f) Stable -
118 UBL Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain AA+(f) Stable -
119 JS Fixed Term Munafa Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Aug-25 Maintain AAA(f) Stable -
120 ABL Special Saving Fund
Press Release | Report | History
Capital Markets Capital Preservation Rating 31-May-25 Same CP2+ Stable -
121 UBL Special Savings Plan – II under UBL Special Savings Fund (USSP-II)
Press Release | Report | History
Capital Markets Capital Preservation Rating 08-Dec-23 Withdraw -
122 UBL Special Savings Plan – III under UBL Special Savings Fund (USSP-III)
Press Release | Report | History
Capital Markets Capital Preservation Rating 08-Dec-23 Withdraw -
123 UBL Special Savings Plan – IV under UBL Special Savings Fund (USSP-IV)
Press Release | Report | History
Capital Markets Capital Preservation Rating 08-Dec-23 Withdraw -
124 UBL Special Savings Plan – V under UBL Special Savings Fund (USSP-V)
Press Release | Report | History
Capital Markets Capital Preservation Rating 08-Dec-23 Withdraw -
125 UBL Special Savings Plan – VI under UBL Special Savings Fund (USSP-VI)
Press Release | Report | History
Capital Markets Capital Preservation Rating 08-Dec-23 Withdraw -
126 NBP Islamic Active Allocation Equity Fund
Press Release | Report | History
Capital Markets Performance Ranking 10-Aug-23 Withdraw -
Complaints
Ms. Iram Tahir | Compliance Officer

+92 42 3586 9504-6 | compliance@pacra.com

DISCLAIMER
In case your complaint has not been properly redressed by us, you may lodge your complaint with SECP.