Karachi, December 26, 2018 (PPI-OT): JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating (FSR) of HBL Income Fund (HIF) at ‘A (f)’ (Single A (f)). The previous rating action was announced on December 29, 2017.
HIF is an open ended fund which aims to provide a stable stream of income while maintaining a moderate level of risk. Fund size decreased to Rs. 2.5b (FY17: Rs. 4.5b), as at end-June’ 2018 on account of redemptions during the period. During FY18, the fund’s asset allocation plan remained concentrated in cash balances and corporate TFCs.
Credit quality has largely been compliant with approved investment limits of the IPS. On an average, the fund parked around 60% of its assets in ‘AA-’ and above rated avenues with the remaining exposure being in line with the stipulations of the assigned ratings. Weighted Average Time to Maturity (WATM) and duration remained within the specified limits as per the operational investment policy.
For more information, contact:
CFA
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: sobia@jcrvis.com.pk