Press Release

VIS Reaffirms Fund Stability Rating for ABL Cash Fund
 

Karachi, January 18, 2022: VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) for ABL Cash Fund (ABL CF) to ‘AA+ (f)’ (Double A Plus (f)). Previous Rating action was announced on December 31, 2020.
Established in July’ 2010,

ABL CF operates as a money market fund. Credit quality metrics remained in line with VIS criteria and the fund’s Investment Policy Statement (IPS). No breaches were witnessed during FY21.

Net Assets of the fund exhibited an increase of 29% to Rs. 34.b (FY20: Rs. 26.9b) at end-June’21. The fund’s asset allocation plan remained primarily concentrated in cash balances and T-bills while remaining investment portfolio comprised money market placements and bank deposits. In line with the fund’s IPS which restricts exposure in below ‘AA’ rated instruments, average allocation remained largely vested in ‘AAA’ and ‘AA+’ exposures, accounting for 84% and 14% of total AUMs, respectively, during FY21. For the assigned rating, the fund remained compliant with the Weighted Average Maturity (WAM) which is capped at 90 days. Portion held by retail investors and associates decreased during the year on account of sizeable increase in investment by unrelated corporates.

For further information on this rating announcement, please contact Syed Fahim Haider at 042-35723411-13 (Ext: 8006) or the undersigned at021-35311861-70 (Ext: 306) or email at info@vis.com.pk







Faryal Ahmad Faheem
Deputy CEO


Applicable Rating Criteria: Fund Stability Ratings (December 2020)
https://docs.vis.com.pk/docs/FundstabilityRating.pdf

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Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.VIS , the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report.VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2022 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .

VIS Credit Rating Company Limited