Lahore, June 20, 2018 (PPI-OT): The fund’s investment objective is to generate a competitive rate of return to its investors by investing in money market and debt instruments with major exposure in the financial sector. The rating reflects sound credit quality and liquidity profile of the fund owing to sizeable investments in high rated avenues. At end-Dec17, the fund is primarily invested 80% in daily cash with high credit quality banks [majority with ‘AAA’ (60%)], while remaining assets are invested in TFCs rated AA-. The unit holding pattern of the fund is adequately diversified with top10 investors representing 51% of the fund’s assets.
Going forward, the fund intends to allocate its assets towards high-quality TFCs and cash balances (rated ‘AA-‘ and above). Material changes in the fund’s asset allocation strategy, which could negatively impact the fund’s credit quality and exposure to interest rate risk, remains critical for the rating.
For more information, contact:
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