Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has maintained its stability rating for the AWT Islamic Money Market Fund. The fund, which was formerly known as the AWT Money Market Fund, is recognized for its low-risk, Shariah-compliant investment strategy aimed at delivering capital preservation, daily liquidity, and competitive returns.

As of April 2025, the fund reported assets under management totaling PKR 1.9 billion, indicating its growing footprint within Pakistan's Islamic liquidity market. The fund's allocation strategy reflects a balanced approach, with 51% of assets in bank deposits, 16% in short-term Sukuks, 13% in Government of Pakistan Ijara Sukuks, and 13% in Bai Muajjal.

The fund's investment-grade concentration ensures a strong defense against credit risk. Approximately 37% of assets are invested in government securities or AAA-rated instruments, while 48% are in AA-rated avenues and 8% in A1-rated avenues. The fund's weighted average maturity stands at 31 days, underscoring its minimal exposure to interest rate fluctuations and market volatility.

The fund's adherence to a conservative maturity structure aligns with its objectives of maximizing liquidity and safeguarding capital. Any significant changes to the fund's investment policy or rating criteria could affect its current rating, PACRA noted.