Karachi, January 05, 2017: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating (FSR) of HBL Islamic Money Market Fund (HBLIMMF) at ‘AA(f)’ (Double A (f)). The previous rating action was announced on January 14, 2016.
The assigned rating incorporates low credit and market risk on account of fund’s structure and conservative asset allocation. During FY16, HBLIMMF continued to deploy funds with banks which have a AA+ rating, which limits credit risk. Since these funds were in saving accounts, which by nature have a low duration, liquidity and market risk are considered minimal.
For further information on this rating announcement, please contact the undersigned (Ext: 207) or Mr. Javed Callea (Ext: 201) at 021-35311861-71 or fax to 021-35311872-3.
Jamal Abbas Zaidi
Applicable Rating Criteria: Fund Stability Ratings (February 2012)
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