Press Release

VIS Reaffirms Fund Stability Rating of Al Habib Cash Fund

Karachi, December 30, 2025: VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) of Al Habib Cash Fund (‘AHCF’ or ‘the Fund’) at ‘AAA(f)’ (Triple A (f)). Medium to long-term rating of ‘AAA’ denotes highest degree of stability in Net Asset Value; risk is negligible with very low sensitivity to changing economic conditions. Previous rating action was announced on December 27, 2024.

The AHCF was launched in March 10, 2011 as an open-ended money market fund managed by Al Habib Asset Management Limited. The Fund’s primary objective is to provide its unit-holders optimum returns from a portfolio of low risk and short duration assets while maintaining high liquidity. The Fund reported Assets Under Management (AUM) of PKR 69,921m in Aug’25.

The assigned rating reflects the Fund’s asset allocation strategy, which remains aligned with the parameters stipulated in the offering document, with investments primarily concentrated in Treasury Bills. The rating also incorporates the Fund’s strong credit quality, with exposures maintained comfortably above the AA threshold and in line with the VIS benchmark. Management’s articulated strategy to maintain at least 90% exposure to AAA-rated securities, with the remaining allocation capped in AA+ rated assets, supports a conservative credit profile and will remain an important rating consideration.

The weighted average maturity (WAM) of the Fund has remained within the limits as outlined in the offering document. Liquidity profile of the Fund is considered sound, supported by the quantum of investments in liquid assets. Corporate investors account for a majority portion of the Fund’s AUM. Client concentration risk is elevated. In terms of the performance, the Fund is positioned in the first quartile.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.



Applicable Rating Criteria: Fund Stability Ratings:
FSR-Methodology-Jan-2025.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright December 30, 2025 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.