KARACHI: Pakistan Credit Rating Agency Limited (PACRA) has upgraded the stability rating of NIT Money Market Fund from “AA+” to “AAA”, which is the highest fund stability rating, a statement said on Wednesday.
The objective of the fund is to generate competitive returns with minimum risk for its unit holders by investing in low risk, liquid, short tenor fixed income securities / money market instruments, it added.
The National Investment Trust Limited was established in 1962, making it the pioneer of domestic mutual funds industry. It is currently one of the largest asset management companies in Pakistan with a portfolio of eight open ended funds and two pension funds with overall assets under management of Rs85 billion as of December 2018, it added.
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