JCR-VIS Reaffirms Fund Stability Rating of ABL Government Securities Fund

Karachi, January 16, 2019 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Government Securities Fund (ABL GSF) at ‘A (f)’ (Single A (f)). Previous rating action was announced on 16th January 2018.

ABL GSF is designed to deliver optimal risk adjusted returns by investing mainly in a mix of short to long term government securities and other debt instruments. As per pre-defined exposure limits, the fund must deploy at least 70% of its assets in government securities based on quarterly average investment to be calculated on a daily basis. Credit quality of exposures is sound with sizeable investment in government securities and avenues having a minimum credit rating of ‘AA-’. Net assets declined to 3.1b (FY17: Rs. 3.8b) at end-FY18 while proportion of retail investments reduced slightly. There was no duration breach according to internal and JCR-VIS set policies. Being largely invested in government securities, the liquidity profile of the fund remained sound.

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/