Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has maintained the stability rating of AKD Cash Fund, highlighting its low risk profile. The fund, managed by AKD Investment Management Limited, aims to deliver optimal returns with minimal risk through investments in high-quality short-term securities. As of June 2026, the fund's assets under management (AUM) have increased to approximately PKR 2.85 billion, up from PKR 2.16 billion in December 2025, demonstrating significant growth while adhering to its investment strategy.

According to PACRA, the fund's asset allocation as of June 2026 was predominantly in Treasury Bills, accounting for about 79.98%, with additional investments in cash (9.89%), commercial papers/short-term Sukuk (6.95%), and other instruments including receivables (3.17%). This allocation underscores a strategy focused on liquidity and short-term sovereign securities. The credit quality of the fund's portfolio is strong, with around 80% of assets in government securities, 10% in AAA-rated avenues, 5% in A1+ rated instruments, 2% in A1 rated avenues, and 3% in unrated instruments.

The fund maintained a weighted average maturity (WAM) of 36 days and a duration of 35 days as of June 2026, effectively managing interest rate and credit risks while ensuring liquidity. Despite a high concentration of unit holdings, with the top ten investors holding approximately 76.5% of total assets, the fund's short WAM and liquid portfolio mitigate potential redemption pressures. The fund achieved an annualized return of 11.86%, outperforming the benchmark return of 11.64% and the peer average return of 11.07%.

Future rating considerations will depend on any material changes to the fund's investment policy and adherence to rating criteria.