PACRA Maintains Stability Rating of MCB Cash Management Optimizer

MCB Cash Management Optimizer ("MCB CMOP" or "the Fund") is a low-risk money market fund with the objective to provide Unit-Holders competitive returns from a low risk portfolio of short duration assets while maintaining high liquidity. The Fund's conservative investment approach focuses on short-duration government securities and high-quality money market instruments, positioning it as a core cash management solution for institutional and retail investors. As of June 2025, the Fund reported Assets Under Management (AUM) of PKR 113.16 billion, reflecting its position as one of Pakistan's largest money market funds. In terms of asset class, 67.5% was allocated as Cash Placements, 30.9% in Treasury Bills, 1.3% in Placements with banks and DFIs and the remaining 0.3% in others including receivables. From a credit quality perspective, the Fund demonstrates exceptional discipline with about 95.2% of assets invested in Government Securities and AAA rated instruments, 4.5% in AA+ rated avenues, and 0.3% as the balance in other high-quality assets. This allocation underscores the Fund's commitment to minimizing credit risk while ensuring stable returns. The Fund's risk parameters reflect its conservative positioning, with a Weighted Average Maturity (WAM) of 41 days and duration profile aligned with its short-term investment mandate. This positioning provides limited exposure to interest rate movements while maintaining flexibility to reinvest quickly as market yields adjust.
Going forward, any material changes in the investment policy and/or compliance with the rating criteria for the assigned rating would have an impact on the rating.

About the Entity
MCB Investment Management Limited (MCBIM) is a public listed company regulated by the Securities and Exchange Commission of Pakistan (SECP). It holds licenses for asset management, investment advisory, and pension fund management, catering to both Conventional and Shariah investment solutions. As of December 2024, MCBIM manages a diversified portfolio, including 26 Open-End Mutual Funds and 4 Voluntary Pension Schemes, while also maintaining a leading position in Separately Managed Accounts (SMA) and investment advisory services. MCBIM’s major shareholders include MCB Bank Limited (~81.42%), Adamjee Insurance Company Limited (~7.59%), and the general public (~9.28%). Mr. Khawaja Khalil Shah serves as the Chief Executive Officer of the company. The Board comprises a balanced composition of 4 Non-Executive Directors and 3 Independent Directors, ensuring robust governance, objective decision-making, and alignment with regulatory best practices. The Company’s assets under management (AUM) have grown significantly, reaching approximately PKR 393 Billion as of June 2025, reflecting its strong market presence and consistent growth in Pakistan’s asset management industry.