PACRA Maintains Stability Rating of NIT Money Market Fund

The NIT Money Market Fund ("NIT MMF" or the "Fund") is a money market Fund with a low risk profile. The Fund aims to generate competitive returns with minimum risk for its unit holders by investing in low risk, highly liquid, and short tenor fixed income securities and money market instruments. As of Dec'25, the Fund's Assets Under Management (AUM) stood at PKR 57.75 billion, reflecting a notable increase from PKR 45.24 billion as of Jun'25. In terms of asset class, the Fund had placed 49.7% as bank placements, 28.4% in T Bills, 10.3% in COI/LOP, 8.6% in PIBs and the remaining in others. From a credit quality standpoint, the Fund had majorly invested in Government Securities/AAA rated avenues (86.8%), 3.0% in AA+ and A1+ rated avenues, 9.4% in AA and A1 rated avenues and the remaining was invested in others. The Fund's Weighted Average Maturity (WAM) stood at 28 days, indicating low exposure to interest rate and credit risk. The Fund's high allocation to Government Securities/AAA rated avenues further supports its sound credit profile and enhances its overall risk position. The top 10 unit holders collectively accounted for 51.42% of the Fund's total units, indicating a moderate level of redemption concentration. However, the associated liquidity risk is considered manageable to some extent, given the Fund's sizeable placement in bank deposits, which provides a readily available source of liquidity to meet potential redemption requirements. In terms of performance, the Fund generated an annualized return of 11.06% as of Dec'25. The return remained marginally below the benchmark return of 11.07% while outperforming the peer average return of 10.22%.
Going forward, any material changes in the investment policy or the devised rating criteria for the assigned rating would have an impact on the rating.

About the Entity
Established in 1962, National Investment Trust Limited (NITL) stands as a pioneering institution in Pakistan’s mutual fund industry. Governed by a Board of Directors comprising fifteen distinguished members, the company exemplifies leadership, stability, and strategic governance. On February 14, 2025, Mr. Manzoor Ahmed assumed the role of Acting Managing Director of NITL. With an illustrious career spanning over 33 years in the mutual fund sector, Mr. Ahmed brings unparalleled expertise in investment management, capital market operations, product development, research, and regulatory affairs. In his capacity as Chief Operating Officer (COO), he has demonstrated exceptional leadership in overseeing the company’s operations and investment portfolio, which exceeds PKR 213 billion in value. As one of Pakistan’s foremost asset management companies, NITL boasts a diversified portfolio comprising sixteen open-end funds, including two non-public funds (NIT-SEF and NIT-EMOF), two voluntary pension schemes, two employer pension schemes, and an exchange-traded fund (ETF). As of December 2025, the company’s assets under management (AUM) stood at an impressive PKR 216 billion, reinforcing its position as a market leader in wealth and fund management. NITL remains committed to delivering superior returns, maintaining strong governance frameworks, and fostering innovation in Pakistan’s financial sector, ensuring sustained value for its stakeholders.