Press Release

VIS Reaffirms Fund Stability Rating of UBL Government Securities Fund
 

Karachi, December 31, 2019: VIS Credit Rating Co. Ltd. (VIS) has reaffirmed the Fund Stability Rating of UBL Government Securities Fund (UGSF) at ‘A+(f)’ (Single A Plus(f)). The previous rating action was announced on December 31, 2018.

Net assets remained volatile during FY19 although ending the year at a higher level. By end-November 2019, net assets depicted further growth. The offering document (OD) of the fund restricts exposure in government securities and AA- rated or above, with at least 70% in sovereign instruments. During FY19, the fund complied with the asset allocation requirement in its investment policy whereby the fund base was invested minimum 70% in government securities. The fund’s investments have sound credit quality as evident from exposure in AA- and above rated instruments. Given the quality of assets and unit-holder profile, ability to meet redemptions in a timely manner is expected to remain strong.

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 (December 2017)
http://vis.com.pk/kc-meth.aspx

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