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Lahore, December 11, 2018 (PPI-OT): The objective of the fund is to provide unit-holders competitive return with low risk and high liquidity by investing primarily in short-term government securities. The rating reflects the fund’s strong credit profile emanating from its investment objective to invest in short-term Government Securities transactions based on quarterly average investment.
At end-Jun18, fund’s exposure in banks was ~74% rated ‘AAA’ and ~26% in T-Bills. The fund has a duration of 3 days at the end of Jun-18. The unit holding pattern of the fund is concentrated with top 10 investors representing almost all of the portfolio. Meanwhile, the group’s own investment represents ~ 50% in total portfolio.
Going forward, the company intends to increase its exposure to T-bills. The rating remains dependent on maintaining at least 50% allocation towards government securities on a monthly average basis with portfolio duration not exceeding 60 days.
For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com