Karachi, January 13, 2022 (PPI-OT):VIS Credit Rating Company Limited has reaffirmed Fund Stability Rating (FSR) of UBL Money Market Fund (UMMF) at ‘AA+ (f)’ (Double A Plus (f)). The previous rating action was announced on January 6, 2020

UMMF operates as an open-end money market fund with the objective to provide investors exposure to money market instruments within a low risk portfolio. ‘’Asset quality of the fund was maintained with exposures largely concentrated in AAA rated exposures with asset allocation vested in largely short term Government securities and cash holdings. Liquidity profile also remains sound with low redemption pressure.

Fund performance however remained subdued with the fund underperforming the benchmark return as well as the peer average. Ranking among peers was also slightly impacted. Net assets of the fund declined in FY21 to Rs. 3b from Rs. 5b at the end of FY20.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/