PACRA Maintains Stability Rating of MCB Cash Management Optimizer

MCB Cash Management Optimizer (or the "Fund") is a low-risk profile Fund. The investment objective of the Fund is to provide unitholders a competitive return from a low-risk portfolio of short duration assets while maintaining high liquidity. The credit quality of the Fund was ~99.3% in AAA/Govt Sec, ~0.2% in AA+, ~0.1% in AA and ~0.4% in others. At the end of Jun'24, the Fund had allocated ~63.6% in Banks, 28.3% in T- Bills, ~7.7% in GOP Ijarah Sukuk whereas, remaining was invested in others. The AUMs of the Fund stood at PKR 46,798mln at the end of Jun'24. The WAM of the Fund stood at 60 days, limiting the Fund to low credit risk. The duration of the Fund stood at 66 days at end of Jun'24, limiting the Fund to low interest rate risk. The top 10 investor concentration stood at ~39% at end of Jun'24, exposing the Fund to moderate redemption pressure .
Going forward, any material changes in the investment policy or the devised rating criteria for the assigned rating would have an impact on the ratings.

About the Entity
MCB Investment Management Limited (MCBIM or the "Company") is a Public Listed Company, regulated by the SECP. MCBIM holds licenses for Asset Management, Investment Advisory, and Pension Fund Management. MCBIM caters to both conventional and Shariah-compliant clientele and is currently managing a diverse product slate of twenty two open-end funds and four voluntary pension schemes. MCBIM is also managing one of the largest AUMS under the SMA segment and holds a significant position in the investment advisory domain.
The major shareholders of MCBIM are MCB Bank Limited ~81.42%, and Adamjee Insurance Company Limited ~7.59%. The general public holds the remaining ~11% of the shares. Mr. Khawaja Khalil Shah is the CEO of the company. There are four non-executive directors, three directors are independent and one executive director (CEO). The AUMS of MCBIM stood at PKR 225bln at end-Jun'24.