Karachi: The Pakistan Credit Rating Agency (PACRA) has reaffirmed the stability rating of the JS Islamic Money Market Fund, recognizing its continued performance as a low-risk, Shariah-compliant investment vehicle. The Fund, designed to offer capital preservation and competitive returns through high-quality Islamic money market instruments, maintains its appeal to institutional investors seeking Shariah-compliant liquidity management solutions.

As of June 2025, the JS Islamic Money Market Fund reported Assets Under Management of approximately PKR 4,214 million. The Fund's investment strategy remains focused on highly liquid and secure avenues, with a significant concentration of 78% in Development Finance Institutions and 20% in Islamic bank deposits, leaving the remainder in other Shariah-compliant instruments.

The credit quality of the Fund's investments is robust, with 46% of assets in AA+ rated exposures, 33% in Government Securities or AAA rated avenues, and 20% in AA rated securities. The Fund's Weighted Average Maturity and Duration were reported at 28 days, which signifies minimal exposure to credit and interest rate risks.

Despite moderate investor concentration, with the top ten unit holders accounting for 50% of the total Assets Under Management, redemption pressures are deemed manageable. PACRA notes that any significant changes in the investment policy or the rating criteria could affect the stability rating moving forward.