JCR-VIS Reaffirms Fund Stability Rating of ABL Cash Fund at ‘AA (f)’
Karachi, January 16, 2018 (PPI-OT):JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Cash Fund (ABL CF) at ‘AA(f)’ (Double A(f)). Previous rating action was announced on 30th December 2016. Established in July’2010, ABL Cash Fund operates as an open end money market fund. Credit quality of the fund has remained in line with set limits with no allocation of funds to below ‘AA’ rated entities. The fund has also remained compliant with weighted average maturity (WAM) limits. Liquidity profile of the fund is supported by high proportion of total assets in cash. Net assets of the fund amounted to Rs. 7.6b at end FY17 (FY16: Rs. 2.6b); while retail portion of the fund has significantly decreased by end-FY17.
For more information, contact:
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi