PACRA Maintains Stability Rating of NIT Money Market Fund

NIT Money Market Fund ("NIT-MMF" or "the Fund") is a low-risk money market solution designed to provide investors with competitive returns while prioritizing capital preservation and liquidity through short-term government securities. The Fund's disciplined approach and substantial scale make it a core liquidity management tool for institutional and retail investors. As of December 2024, the Fund reported Assets Under Management (AUM) of PKR 57.14 billion, reflecting its position as one of Pakistan's largest and most liquid money market funds. In terms of asset class, 91.45% was invested in Treasury Bills, 3.23% in bank deposits, and 1.75% in Pakistan Investment Bonds (PIBs). The Fund's credit quality shows 96.43% of assets in Government Securities and AAA rated instruments, complemented by 2.18% in AA+ rated and 1.18% in A1 rated avenues. This near-sovereign concentration provides substantial protection against credit risk while ensuring optimal liquidity management. With a Weighted Average Maturity (WAM) of 77 days as of December 2024, the Fund maintains moderate exposure to interest rate movements. This short duration profile enhances its resilience to market volatility while allowing for competitive yields in the current monetary environment.
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
National Investment Trust Limited was established in 1962 and is a pioneer in the mutual fund industry. The Company’s Board of Directors currently comprises fifteen board members. Mr. Manzoor Ahmed, assumed charge of the post of Managing Director (Acting), National Investment Trust Limited on February 14, 2025. Being, COO, he has been successfully managing the operations and investment portfolio worth over PKR 213 billion. He has experience of over 33 years of the Mutual Fund industry and has been placed at many key positions within NIT that includes capital market operations, investment management, product development, research and liaising with the regulatory authorities. The Company is currently one of the largest asset management companies in Pakistan with a portfolio of sixteen open-end funds which includes two non-public funds namely NIT-SEF and NIT-EMOF, two voluntary pension schemes, two employer pension scheme and an exchange-traded fund. The assets under management of the Company stood at ~PKR 217,860mln at the end of Dec'24.