Press Release
VIS Logo

Press Release

VIS Reaffirms Fund Stability Rating of UBL Growth and Income Fund

Karachi, December 31, 2019: VIS Credit Rating Co. Ltd. (VIS) has reaffirmed the Fund Stability Rating (FSR) of UBL Growth and Income Fund (UGIF) at ‘A (f)’ (Single A (f)). The previous rating action was announced on December 31, 2018.

UGIF was launched in March 2006, as a fixed income fund with an aggressive asset allocation mandate. The rating of UGIF takes into account existence of floor of 75% in relation to exposure in ‘A’ or higher rated investment avenues, as per the fund’s operational investment policy. Rating also factors in the fund’s policy to restrict weighted average duration under 1 year, indicating manageable exposure to market risk.

Actual asset allocation of the fund has primarily been maintained in ‘A’ or higher rated securities. The fund size has witnessed an increase during FY19. Liquidity profile is supported by sizeable holding of cash and bank balances.

For further information on this rating announcement, please contact Mr. Talha Iqbal (Ext: 213) or the undersigned (Ext: 201) at (021) 35311861-66 or email at info@vis.com.pk.



Javed Callea
Advisor

Applicable Rating Criteria: Fund Stability Ratings (December 2017)
http://vis.com.pk/kc-meth.aspx

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright December 31, 2019 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.