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Karachi, January 20, 2020 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) of ABL Income Fund (ABL IF) at ‘A(f)’ (Single A (f)). The previous rating action was announced on January 16, 2019.
ABL-IF is an open end fund launched in September 2008. In order to restrict the fund’s exposure in various investments and credit quality, quarter of the fund’s assets must be allocated in cash and cash equivalents. On average the fund maintained more than quarter of its assets in cash balances while other investment avenues comprised TFCs, T-bills and PIBs. Credit quality of exposures has remained in line within the VIS’s criteria for the assigned rating with investment exposure in ‘A+’ and above rated securities.Net assets of the fund further decreased to 1.7b (FY18: 2.8b) at end-FY19. There was no breach in the duration of the fund according to the criterion set by VIS.
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/