Press Release

JCR-VIS Reaffirms Fund Stability Rating of ABL Income Fund
 

Stability Rating of ABL Income Fund (ABL IF) at ‘A(f)’ (Single A(f)). Previous rating action was announced on 16th January 2018.

ABL-IF is an open end fund launched in September 2008. The operational policy of the fund stipulates that a quarter of assets must be deployed in cash and near cash instruments. On average, the fund maintained around half of exposure in cash & bank balances with TFCs and government securities comprising remaining investments. Credit quality of exposures has remained in line with JCR-VIS’s criteria for the assigned rating with investment exposure in securities rated ‘A+’ and above. Net assets of the fund decreased to Rs. 2.8b (FY17: Rs. 3.9b) at end-FY18. There was no duration breach according to internal and JCR-VIS set policies.


For further information on this rating announcement, please contact the undersigned (Ext: 207) or Javed Callea (Ext: 201) at 021-35311861-70 or fax to 021-35311873.



Jamal Abbas Zaidi
Advisor

Applicable Rating Criteria: Fund Stability Ratings (September 2018)
http://jcrvis.com.pk/docs/Fund%20stability%20Rating092018.pdf

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Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited JCR-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.JCR-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.JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings.JCR-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 2019 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

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