Lahore, April 18, 2019 (PPI-OT): The fund’s objective is to provide a stable income stream with the preservation of capital by investing in AA and above rated banks and money market instruments.
The rating reflects the fund’s low-risk profile emanating from the fund’s investment policy to invest in avenues rated ‘AA’ and above. At the end of Dec-18, the asset allocation of the fund consisted of Bank Deposits ~97%. The portfolio duration of the fund represents very low exposure towards interest rate volatility. The fund’s unit holding pattern is concentrated with the top 10 investors comprising 57% of the fund’s net assets, which shows moderate redemption pressure over the fund.
Going forward, the rating remains dependent on maintaining exposure with high credit quality financial institutions with portfolio duration not exceeding 90 days. Meanwhile, the remaining assets of the fund must be placed with scheduled banks having credit ratings of ‘AA’ and above.
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