JCR-VIS Harmonizes Fund Stability Rating of HBL Money Market Fund

Karachi: Following the revision in fund stability rating methodology, JCR-VIS Credit Rating Company Limited has harmonized the fund stability rating (FSR) of HBL Money Market Fund (HBLMMF) from ‘AA+(f)’ (Double A Plus (f)) to ‘AA(f)’ (Double A (f)).

In line with the investment policy, at least 50% of net assets have to be invested in T-bills and remaining exposures by the fund are subject to minimum credit rating of ‘AA’. Maximum weighted average time to maturity of the net assets cannot exceed 90 days.

Actual asset allocation of the fund is aligned with the investment policy. At end- February 2012, 89% of the total assets of the fund were invested in T-bills and remaining were invested in Term Deposit Receipts with commercial banks having credit rating of AA+. Weighted average time to maturity of the fund at end-February 2012 was 85 days.

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