April 2, 2019 (MLN): Rising interest rates have made money market mutual funds attractive, as they provide a much-needed boost to money market mutual funds yields.
During the month of March FY19, out of 20 money market mutual funds currently in operation, ALFALAH GHP Money Market Funds and JS Cash Funds outperformed the rest of the funds with annualized total return of 9.95% and 9.77% respectively. This was followed by NIT Money Market Fund (9.76%), MCB Cash Management Optimizer (9.71%), NAFA Money Market Fund (9.62%), and LAKSON Money Market Fund (9.61%).
Within the list, ATLAS Money Market Fund, ABL Cash Fund and HBL Cash Fund-C secured seventh, eighth and ninth position with an annualized total return of 9.6%, 9.44% and 9.41% respectively. While Pakistan Cash Management Funds showed the lowest annualized return of 7% followed by AKD Cash Fund with 7.9% annualized return for the period mentioned above.
In terms of Payouts, Faysal Money Market Fund recorded a highest payout of Rs 5.5 per unit followed by Atlas Money Market Fund Rs3.75 per unit and JS Cash Fund Rs 0.77 per unit. The lowest payout was given by ABL Cash Fund at Rs 0.073 per unit.
