PACRA Maintains Stability Rating of AWT Islamic Money Market Fund

AWT Islamic Money Market Fund ('AWTIMMF' or the 'Fund') is a low risk profile Fund. The objective of the Fund is to seek high liquidity, competitive return and maximum possible preservation of the Capital for investors by investing in low-risk Shariah Compliant securities. As of Dec’25, the Assets Under Management (AUM) of the Fund stood at ~PKR 2,549 million, reflecting an increase from ~PKR 2,284 million as of Jun’25. The growth in AUM indicates stable investor participation during the period. The Fund maintains a liquid portfolio consistent with its money market mandate. In terms of asset class, ~57.9% of net assets were placed as bank deposits, ~24.3% in Bai Muajjal, and ~15.6% in short-term sukuk, with the remainder invested in other instruments. From a credit quality standpoint, ~69.6% of assets are invested in Government Securities/AAA rated instruments, ~12.6% in AA+ rated avenues, and ~15.6% in AA/A1 rated exposures, with the remaining portion in other categories. The Weighted Average Maturity (WAM) of the Fund stood at 27 days as of Dec’25. The maturity profile limits exposure to interest rate movements, resulting in low interest rate risk and supporting portfolio stability. The top ten unit holders accounted for 85.4% of the total AUM, indicating very high investor concentration and potential redemption risk. Among these holdings, 26.4% belong to associated parties, which moderates the effective external redemption pressure to approximately 58.9%. Additionally, the Fund’s substantial allocation to bank deposits (57.9%) provides a liquidity buffer that can help meet redemption requirements. In terms of performance, the Fund reported an annualized return of 10.12% as of Dec’25. This exceeds both the benchmark return of 9.51% and the peer average return of 9.63%, indicating outperformance relative to comparable funds.
Going forward, any material changes in the investment policy or the devised rating criteria for the assigned rating would have an impact on the ratings.

About the Entity
AWT Investments Limited (AWTIL) is a public unlisted company, incorporated in 2011, operating as a licensed Non-Banking Finance Company (NBFC) under the regulatory oversight of the Securities and Exchange Commission of Pakistan (SECP). As a wholly-owned subsidiary of Army Welfare Trust (AWT), the company is authorized to manage open-end and closed-end funds while providing comprehensive Investment Advisory Services. AWTIL is governed by a six-member Board of Directors, ensuring strong oversight and strategic direction. The company is led by Mr. Sajjad Anwar, Chief Executive Officer (CEO), a CFA charter holder with over 24 years of distinguished experience in Equity Research, Portfolio Management, Investment Advisory, Risk Management, and Finance & Accounts. Prior to joining AWTIL, Mr. Anwar served as Chief Investment Officer (CIO) at NBP Funds, bringing proven expertise and leadership in the asset management industry. AWTIL manages Shariah-compliant investment solutions, catering to a broad spectrum of investor preferences. As of December 2025, the company’s Assets Under Management (AUM) surpassed PKR 72,577 million, reflecting its strong market presence and disciplined investment approach. With a foundation built on transparency, regulatory compliance, and strategic asset allocation, AWT Investments Limited continues to strengthen its position as a trusted wealth management partner. The company remains dedicated to delivering sustainable returns, innovative financial solutions, and superior client service in Pakistan’s dynamic investment landscape.