PACRA Maintains Stability Rating of Atlas Money Market Fund

Atlas Money Market Fund (“A-MMF” or “the Fund”), a low-risk profile fund, aims to provide its unit holders with competitive returns from a portfolio of low-risk, short-duration assets while maintaining high liquidity. As of June 2025, the Fund’s assets under management (AUM) stood at PKR 43,043mln. The Fund maintained a conservative allocation, with approximately 84% invested in Government of Pakistan Treasury Bills (T-Bills), 10% held in cash, and the remaining portion deployed across other avenues. This structure underscores the Fund’s focus on stability, liquidity, and consistent returns through investments in high-quality short-term instruments. The credit quality profile of the Fund remained strong, with 100% exposure in Government securities/AAA-rated avenues, reflecting its emphasis on maintaining a high-quality and low-risk investment portfolio. At period-end, the Weighted Average Maturity (WAM) stood at 40 days, indicating a short-term maturity profile and limited exposure to market and credit risk. This low level of WAM highlights the Fund’s allocation in short-term instruments.. The unit holding structure of the Fund reflected concentration, with the top 10 investors collectively accounting for ~63% of total holdings as of end-June 2025. While this introduces moderate redemption pressure, the Fund’s significant allocation in liquid government securities provides sufficient flexibility to accommodate withdrawals without affecting portfolio stability.
Going forward, the material changes in the Fund's asset allocation strategy, which could impact the Fund's credit quality and exposure to interest rate risk, would remain critical for the rating.

About the Entity
AAML, incorporated in August 2002, is a wholly owned subsidiary of Shirazi Investments (Pvt.) Limited – the holding company of Atlas Group. Atlas Group, founded in 1962 with the establishment of Shirazi Investments, is a diversified group with having presence in manufacturing, power, financial services, and trading. The Company’s seven-member Board of Directors comprises five representatives of Atlas Group including the CEO, the other two are independent directors. Mr. Iftikhar H. Shirazi serves as the Chairman of the Board of Directors of AAML along with several other companies of the Group. The board has three committees to provide oversight on the Company’s affairs: 1) Audit Committee, 2) Human Resource & Remuneration Committee, and 3) Investment Committee. The Company had AUMs of PKR 136.3bln at end of Jun'25.