Japan Credit Rating-Vital Information Service Harmonizes Fund Stability Ratings of ABL Cash Fund

Karachi: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has harmonized the Fund Stability Rating of ABL Cash Fund at ‘AA+( f)’ (Double A Plus (f)).

The rating incorporates the shift in fund’s operational policy, whereby duration of the fund is now targeted at 60 days, with an aim to reduce the fund’s exposure to market risk. Actual duration was recorded at 56 days as of February-end 2012.

Given the credit quality of the fund’s current portfolio and exposure limits outlined in the operational policy, credit risk thereon is also expected to remain low. At February-end 2012, exposure in government securities comprised 82% of net assets. Remaining net assets comprised bank placements with counter parties having minimum credit rating of ‘AA’.

For more information, contact:
Mr. Javed Callea
Advisor
JCR-VIS Credit Rating Company Limited
Tel: +9221 35311861 (10 lines) (Ext: 501)
Fax: +9221 35311872-3
E mail: javed.callea@jcrvis.com.pk

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