Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has upheld the stability rating of the Lucky Islamic Cash Fund, a low-risk Islamic Money Market Scheme. The fund aims to generate long-term, risk-adjusted returns through investments in Shariah-compliant securities and debt instruments. As of June 2026, the fund's assets under management reached PKR 5,549 million, marking a significant increase from PKR 811 million in February 2026, indicating a rise in investor participation.

According to The Pakistan Credit Rating Agency Limited, the fund's portfolio includes approximately 47% in cash and cash equivalents, 33% in placements with banks and development finance institutions, 19% in corporate Sukuks, and 1% in other receivables. The asset allocation remains diversified across Shariah-compliant money market avenues, with a strong emphasis on liquid assets. Approximately 67% of the fund's investments are in AAA-rated instruments, with additional allocations in AA+, A1+, and A1 rated avenues, ensuring a robust credit profile.

The fund's weighted average maturity is 34 days, reflecting low sensitivity to profit rate fluctuations. This short maturity profile, combined with substantial cash and bank placements, enhances liquidity. Despite a high concentration of holdings among the top ten investors, the stability of these investors supports the fund's resilience. The fund has delivered a since-inception annualized return of 10.04%, outperforming its benchmark of 9.11%. Any significant changes in investment policy or non-compliance with rating criteria could affect its rating.