Lahore, October 04, 2021 (PPI-OT): JS Income Fund (or the “Fund”) is a medium risk profile fund. The investment policy holds that the Fund will invest predominately in fixed-rate corporate debt instruments and Government Securities. At the end of Jun’21, the total cash balances consisted of 34.69% of the Fund’s total assets in banks mostly rated A+ and above. Moreover, the equity portfolio of the Fund consisted of 26.38% of the Fund’s assets in companies mostly rated ‘A’ and above. Placement in Sukuks constituted 21.71% of the total assets.
Considerable holding in cash and bank balances strengthens the liquidity profile of the Fund. The duration is at an average of 25 days which minimizes exposure to the interest rate risk (At end Jun’21). The top 10 investors possess concentration of 51.17% in the Fund’s total assets. Therefore, it could be ascertained that the unit holding pattern is moderate.
Going forward, the fund may shift its focus towards banks and government securities, based on prevailing market expectations. Material changes in the fund’s asset allocation strategy, impacting its credit quality and/or exposure to interest rate risk, would affect the rating.
For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com