Not all cash management money market funds are equal, Amanah Raya Shariah Cash Management Fund 💵😧

Someone sent me info that Amanahraya Shariah Cash Management Fund experiencing a big drop in unit trust price.

Apparently the fund has 98% of its cash in Serba Dinamik commercial papers (a form of bond/loan). As we all know Serba Dinamik is currently being pushed into PN17 (Practice Note 17) by Bursa Malaysia. Companies going into this status are companies that are having financial difficulties.

Amanahraya Shariah Cash Management Fund is rated as a low risk fund but somehow this risk is exposed by single issuer risk , having put all eggs in 1 basket in Serba Dinamik commercial papers.

I'm not from finance and did a search on what are commercial papers and apparently these are un-secured debt by companies used for settling the company's short term liabilities (eg employee payroll, inventor purchase etc)