Karachi, December 30, 2016: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Cash Fund (ABL CF) at ‘AA(f)’ (Double A(f)). Previous rating action was announced on 31st December 2015.
Established in July’2010, ABL Cash Fund operates as an open end money market fund. Average allocation to government securities was 64% and has remained within stipulated limits. Credit quality of the fund has remained in line with IPS with no allocation of funds to below ‘AA’ rated entities. The Fund has also remained compliant with weighted average maturity (WAM) limits. Liquidity profile of the fund is supported by short maturity profile and investment in highly marketable securites portfolio.
For further information on this rating announcement, please contact the undersigned (Ext: 207) or Javed Callea (Ext: 201) at 021-35311861-70 or fax to 021-35311873.
Jamal Abbas Zaidi
Applicable Rating Criteria: Fund Stability Ratings (February 2012)
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