PACRA Maintains Stability Rating of Faysal Money Market Fund

Lahore, June 20, 2018 (PPI-OT): The objective of the fund is to generate consistent and competitive returns with minimal risk by investing in liquid, low risk short-term investments, yielding competitive returns. The rating reflects the fund’s sound credit risk profile emanating from the fund’s investment policy to invest in high credit quality investment avenues with sound liquidity. At end Dec-17, fund’s assets were 99% invested with banks rated ‘AAA’ and ‘AA+’. The unit holding pattern of the fund is concentrated with top10 investors representing 63 % of the total fund size of which around ~13% are owned investments, which reflects a moderate level of redemption risk.

Going forward, the fund intends to maintain its allocation towards government securities and bank placements rated ‘AAA’ and ‘AA+’. Meanwhile, the assets of the fund must be placed with the minimum credit ratings of ‘AA’ and above.

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

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