Press Release

VIS Reaffirms Fund Stability Rating of HBL Islamic Money Market Fund
 

Karachi, December 30, 2019: VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) of HBL Islamic Money Market Fund (HIMMF) at ‘AA (f)’ (Double A (f)). The previous rating action was announced on December 26, 2018.

HIMMF is a Shariah compliant open end fund which is designed to provide investors with maximum possible return and high liquidity while ensuring capital preservation. Net assets of the fund increased to Rs. 1.05b (FY17: Rs. 0.96b) at end-FY19, emanating from both, retails and associates. Likewise, net assets of the fund also registered growth to Rs. 1.2b at end-Nov’19. Exposures of the fund have largely remained compliant with credit quality and asset allocation stipulation for the assigned ratings. Duration of the fund remained compliant with the rating stipulations. Investor concentration witnessed improvement in the outgoing year. Moreover, given the liquidity profile of assets, ability to meet redemptions is considered sound.

For further information on this rating announcement, please contact Mr. Talha Iqbal (Ext: 213) or the undersigned (Ext: 201) at (021) 35311861-66 or email at info@vis.com.pk.




Javed Callea
Advisor




Applicable Rating Criteria: Fund Stability Ratings (September 2018)
https://s3-us-west2.amazonaws.com/backupsqlvis/docs/Fund%20stability%20Rating092018.pdf

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