PACRA Maintains Stability Rating of BMA Money Market Fund

BMA Money Market Fund ("BMA-MMF" or "the Fund") is a low-risk profile Fund. The primary objective is to generate competitive returns with a high level of liquidity and minimal risk by investing primarily in short-term money market instruments and high-quality fixed income securities. As of Sep’26, the Fund’s Assets Under Management (AUM) stood at ~PKR 2.39bln, down from PKR 3.22bln as of May’26, reflecting a contraction in fund size during the period. In terms of asset allocation, approximately 64.66% of the portfolio was invested in T-Bills, ~29.98% in placements with Banks and DFIs, and ~5.09% in Cash, with the remaining ~0.27% allocated to other assets including receivables. The allocation reflects a portfolio primarily concentrated in short-term sovereign securities and bank placements, supporting liquidity. From a credit quality perspective, ~64.8% of the assets were invested in Government Securities, ~20.0% in AA+ rated avenues, ~10.0% in AA-rated instruments, and ~5.1% in AAA-rated avenues, indicating a reasonable credit quality profile with significant exposure to sovereign securities. At end-Sep’26, the Fund’s WAM stood at 36 days, while duration stood at 37 days, reflecting limited sensitivity to interest rate movements and relatively low maturity risk. However, the unit holding pattern remained highly concentrated, with the top 10 investors accounting for ~80% of total holdings, indicating elevated potential redemption pressure. In terms of performance, the Fund delivered a return of 10.6% as of Sep’26, compared to the benchmark return of 11.3% and peer average return of 10.6%, indicating underperformance relative to its benchmark while performing in line with comparable funds.
Going forward, the Fund intends to operate within broad money market stipulations, maintaining a balance between yield optimization and disciplined management of associated risks.

About the Entity
BMA Investment Advisors Limited was incorporated in April 2005 and obtained its licenses for investment advisory and asset management in April and July 2005, respectively. The Company is a wholly owned subsidiary of BMA Capital Management Limited. Mr. Haris Anwar assumed charge as Chief Executive Officer of the company. The Company has a three-member board, two of whom are non-executive and one is independent. Mr. Salim Khan has been serving as the Chairman of the Board since October 2017.