Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has maintained the stability rating of the ABL Money Market Fund (ABL-MMF), which operates under a low-risk profile aimed at providing competitive returns while preserving capital through investments in bank deposits and money market instruments. The fund reported a contraction in its Assets Under Management (AUM), which stood at PKR 7,963 million as of June 26, compared to PKR 8,275 million at the last review. This reduction aligns with an overall decrease in the money market fund category size.

According to PACRA, the ABL Money Market Fund's asset allocation is diversified, with approximately 50% in cash, 43% in Treasury Bills, and smaller portions in TFCs/Sukuk and commercial paper. The fund's credit profile remains strong, with 93% of its assets in government securities and AAA-rated instruments. Its weighted average maturity of 56 days suggests limited sensitivity to interest rate changes, supporting its liquidity position.

The unit holding pattern demonstrates low concentration, with the top 10 investors holding about 33% of the fund's total assets. These investors are primarily corporates and welfare funds, contributing to a stable investor base. Despite delivering a one-year return of 9.79% as of June 26, the fund underperformed its benchmark by 94 basis points. Future changes in investment policy or compliance with rating criteria may impact the fund's rating.