Lahore, March 11, 2023 (PPI-OT): Lakson Money Market Fund (or the “Fund”) is low risk profile fund. The assigned rating reflects the Fund’s low credit risk profile emanating from Fund’s Investment policy to invest in avenues with sound liquidity.
The Fund had allocated ~51.3% in T-Bills, ~25.7% in placement with NBFIs rated AA+ and above, ~22.5% in cash majority in AA+ rated bank whereas ~0.4% in others. The duration and the WAM of the Fund stood at 13 days, limiting the exposure to interest rate and credit risk. The unit holding pattern of the fund were ~59.6% represented by top 10 investors. The Fund remained compliant with given criteria of investing at least 50% in AAA/Govt Securities and maximum investment in AA rated avenues would be 25%.
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.
For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com
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