VIS Upgrades Fund Stability Rating of UBL Growth and Income Fund - AsiaNet-Pakistan

VIS Upgrades Fund Stability Rating of UBL Growth and Income Fund

January 7, 2021 | | Share:

Karachi, January 07, 2021 (PPI-OT): VIS Credit Rating Company Limited. (VIS) has upgraded the Fund Stability Rating (FSR) of UBL Growth and Income Fund (UGIF) to ‘A+ (f)’ (Single A Plus (f)) from ‘A (f)’ (Single A (f)). The previous rating action was announced on December 30, 2019.

United Growth and Income Fund (UGIF) was launched in 2006, as a fixed income fund with an aggressive asset allocation mandate. The fund offers investment opportunities in medium to long term fixed income instruments with risk adjusted returns while preserving the capital over the long-term. The rating action incorporates updated ‘FUND STBILITY RATING methodology which can be found on our website or on the following link:

https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/FundstabilityRating.pdf.

The Offering Document (OD) of the fund restricts exposure in A- rated or above securities and Government securities. Actual asset allocation of the fund has primarily been maintained in ‘AA-’ or higher rated avenues. During FY20, the fund parked most of its assets in cash balances and government securities, remaining chunk investment portfolio consisted of TFCs. Net assets of the fund declined during FY20 closing at Rs. 878mn (FY19: 1.7b). Moreover, duration remained within the defined policy limits during the period under review.

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/

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