Lahore, April 17, 2019 (PPI-OT): The objective of the fund is to provide a stable income stream with the preservation of capital by investing in AA and above rated banks and short-term government securities.
The rating reflects very strong credit quality and low-risk profile emanating from the fund’s investment objective to invest in avenues rated ‘AA’ and above. At the end of Dec-18, the asset allocation of the fund consisted of ~99% bank deposits (62% ‘AAA’ rated and 37% ‘AA+’). The portfolio duration of the fund represents extremely low exposure towards interest rate volatility. The unit holding pattern of the fund is concentrated with top 10 investors representing ~82% of the fund’s assets. Meanwhile, the group’s own investment represents ~37% in total portfolio.
Going forward, the company intends to increase its exposure in T-Bills whilst the remaining assets will be invested as cash with banks.
For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com