Karachi, December 30, 2016: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Government Securities Fund (ABL GSF) at ‘A (f)’ (Single A (f)). Previous rating action was announced on 31st December 2015.
ABL Government Securities Fund (ABL-GSF) was launched in November’2011, as an open end mutual fund. As per pre-defined exposure limits, the fund must deploy at least 70% of its assets in government securities. On month-end average basis, the fund deployed around two-third of its net assets in government securities. Credit quality of exposures is sound with sizeable investment in government securities and avenues having a minimum credit rating of ‘AA-’. While remaining in compliance with internal policy limits, a few breaches have been noted as compared to JCR-VIS’s internal duration criterion. The same will continue to be tracked by JCR-VIS, going forward. Being largely invested in government securities, the liquidity profile of the fund remained sound.
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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