JCR-VIS Reaffirms Fund Stability Rating of ABL Government Securities Fund

Karachi, January 16, 2018 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Government Securities Fund (ABL GSF) at ‘A (f)’ (Single A (f)). Previous rating action was announced on 30th December 2016. As per pre-defined exposure limits, the fund must deploy at least 70% of its assets in government securities. On month-end average basis, the fund deployed around 68.2% of its net assets in government securities.

Credit quality of exposures is sound with sizeable investment in government securities and major avenues having a minimum credit rating of ‘AA-’ and above. Duration has remained in compliance with internal policy limit, and also in line with JCR-VIS’s internal criteria. Being largely invested in government securities, the liquidity profile of the fund remained sound. Net assets of the fund declined to Rs. 3.8b (FY16: Rs. 9.5b) by end-FY17; considerable redemption was witnessed in FY17 primarily on account of lower return offered by government securities funds.

For more information, contact:
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