Press Release

JCR-VIS Reaffirms Fund Stability Rating of HBL Money Market Fund

Karachi, December 26, 2018: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of HBL Money Market Fund (HMMF) at ‘AA (f)’ (Double A (f)). The previous rating action was announced on December 29, 2017.

HMMF is an open ended fund which offers high liquidity by investing in shorter duration securities. Net assets of the funds increased to Rs. 7.2b (FY17: Rs. 3.9b) at end-FY18. Assigned ratings take into account asset allocation in highly liquid investments and exposure in sound credit quality instruments. Moreover, during FY18 modified duration of the fund remained on the lower side indicating limited exposure to market risk. Maximum duration during FY18 was reported at 55 days at end-April’2018.

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 (September 2018)

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited VIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report.VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2018 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited