PACRA Maintains Stability Rating of Lakson Money Market Fund

Lakson Money Market Fund ("LMMF" or "the Fund") is categorized under a low-risk profile, with the objective of providing stable and competitive returns in line with money market conditions, exhibiting low volatility consistent with capital preservation through a liquid portfolio of low-risk, short-term investments. As of Dec'25, the Fund's Assets Under Management (AUM) stood at PKR 35,057mln, compared to PKR 32,318mln as of Jun'25 (the last review), reflecting a steady growth of approximately PKR 2,739mln during the review period, indicative of sustained investor confidence in the Fund's money market offering. In terms of asset allocation, approximately ~61% of the portfolio was invested in cash, 17% in placements with banks/DFIs, 9% in PIBs, and the remainder in other eligible instruments, reflecting a well-diversified yet highly liquid portfolio positioning consistent with the Fund's low-risk money market mandate. From a credit quality perspective, approximately 80% of the Fund's assets were invested in Government Securities and AAA rated instruments, while ~18% were placed in AA+ rated avenues, ~1% in AA rated instruments, and the remainder in other exposures. The Fund's Weighted Average Maturity (WAM) stood at 8 days as of Dec'25, reflecting very limited sensitivity to interest rate movements and reinforcing the Fund's strong liquidity position. The ultra-short WAM profile enables the Fund to reprice its portfolio rapidly in response to changes in the monetary policy environment, thereby protecting unit holders from adverse interest rate movements. In terms of performance, the Fund reported an annualized one-year return of 10.77% as of Dec'25, compared to a benchmark return of 11.07%. This marginal gap is broadly attributable to the Fund's conservative asset allocation and short-duration investment strategy, which, while prioritizing liquidity and capital preservation, has modestly constrained yield optimization relative to the benchmark.
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
Lakson Investments Limited (LIL), the premier investment management arm of the esteemed Lakson Group, was incorporated on January 02, 2009, as an unlisted public company. Licensed to provide Asset Management, Investment Advisory, and Private Fund Management services, LIL has distinguished itself as a forward-thinking financial institution with a diversified portfolio. A market pioneer, Lakson Investments is the only Asset Management Company (AMC) in Pakistan offering global market exposure through its Lakson Asset Allocation Developed Markets Fund. The company further strengthens its investment ecosystem by managing a private equity and venture capital fund, alongside a robust suite of mutual funds and separately managed accounts (SMAs). Under the leadership of Mr. Babar Ali Lakhani (CEO), a seasoned investment professional with over 23 years of experience in domestic and international equity and fixed income markets, LIL continues to drive strategic growth and portfolio excellence. The company is further guided by the visionary stewardship of Mr. Iqbal Ali Lakhani, Chairman of the Lakson Group, who also chairs Lakson Investments’ Board of Directors. As of Dec 2025, the company’s Assets Under Management (AUM) stood at ~PKR 96 billion, underscoring its strong market presence and investor confidence. Lakson Investments remains committed to innovation, prudent risk management, and value creation, reinforcing its position as a trusted leader in Pakistan’s asset management landscape.