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JCR-VIS reaffirms Fund Stability Rating of ABL Cash Fund - Press Release issued by JCR-VIS Credit Rating Company Limited

August 15, 2014

Following is the text of press release issued by JCR-VIS Credit Rating Company Limited


JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Cash Fund (ABL CF) at 'AA(f)' (Double A(f)). ABL CF is structured as a money market fund; in line with its mandate, the fund's exposure to various sources of risks has been maintained at low end of the risk spectrum.

During FY14, average month-end allocation to government paper was recorded at over 60%, though end-June 2014 level was much lower at 22%. Remaining exposures were maintained with highly rated counterparties, in line with the investment policy, which stipulates minimum issue/issuer rating of 'AA'.

Weighted average maturity of the fund's assets has varied over the last year, while remaining within maximum policy limit. Investor concentration remains high; short maturity profile and quality of assets mitigates the associated liquidity risk.

For more information, contact:

Ms. Sobia Maqbool


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



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Source: Pakistan Press International

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