Karachi, December 26, 2018 (PPI-OT): JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of HBL Money Market Fund (HMMF) at ‘AA (f)’ (Double A (f)). The previous rating action was announced on December 29, 2017.
HMMF is an open ended fund which offers high liquidity by investing in shorter duration securities. Net assets of the funds increased to Rs. 7.2b (FY17: Rs. 3.9b) at end-FY18. Assigned ratings take into account asset allocation in highly liquid investments and exposure in sound credit quality instruments. Moreover, during FY18 modified duration of the fund remained on the lower side indicating limited exposure to market risk. Maximum duration during FY18 was reported at 55 days at end-April’2018.
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