Karachi, January 16, 2019 (PPI-OT): JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Cash Fund (ABL CF) at ‘AA(f)’ (Double A(f)). Previous rating action was announced on 16th January 2018. Established in July’2010, ABL CF operates as an open end money market fund. Credit quality of the fund has remained in line with set limits with no allocation of funds to below ‘AA’ rated entities.
The fund has also remained compliant with weighted average maturity (WAM) limits. Liquidity profile of the fund is supported by high proportion of total assets in cash. Net assets of the fund amounted to Rs. 13.2b at end FY18 (FY17: Rs. 7.64b); while retail portion of the fund has increased at end-FY18, the remaining major portion of investment comprises unrelated corporates.
For more information, contact:
Director Compliance and Rating Analytics,
JCR-VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: http://jcrvis.com.pk/