AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, January 20, 2020 (PPI-OT): VIS Credit Rating Company Limited (VIS) has upgraded the Fund Stability Rating (FSR) of ABL Government Securities Fund (ABL GSF) to A+(f)’ (Single A Plus (f) from ‘A (f)’ (Single A (f)). Previous rating action was announced on January 16, 2018.
Launched in November 2011, ABL GSF is designed to deliver risk adjusted returns by investing primarily in a diversified pool of debt instruments comprising short and long term government securities. As per the fund’s investment policy, minimum of 70% of the fund’s assets must be deployed in government securities based on quarterly average investments to be calculated on a daily basis. The rating upgrade takes into account the fund’s strong credit quality, modest exposure to market risk and improving liquidity profile. Net assets declined to 2.8b (FY18: 3.1b) at end-FY19 while proportion of retail investments increased. Actual asset allocation and duration of the fund remained compliant with VIS’s criteria during the review period.
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/