Press Release
VIS reaffirms Fund Stability Rating of UBL Liquidity Plus Fund
Karachi, January 13, 2022: VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of UBL Liquidity Plus Fund (ULPF) at ‘AA+ (f)’ (Double A Plus (f)). The previous rating action was announced on January 06, 2021.
ULPF was launched with a mandate to provide competitive returns to unit-holders while maintaining a conservative risk profile and high liquidity.
The fund’s offering document limits exposure to AA rated and above exposures, with exposure to cash and cash equivalents and government securities allowed to the extent of 100% of net assets. Actual asset allocation of the fund was dominated by cash and T-Bills in FY21 with the fund remaining compliant with credit quality stipulations.
The current investment policy limits Weighted Average Maturity (WAM) of the portfolio at 90 days while single asset maturity is limited at 6 months for which the fund remained compliant during the period under review. Net assets of the fund witnessed a sizeable growth end-June’21 closing at Rs. 30.5b (FY20: 19b)
For further information on this rating announcement, please contact Ms. Sara Ahmed (Ext: 207) or the undersigned (Ext: 204) at (021) 35311861-66 or email at info@vis.com.pk
Faryal Ahmed Faheem
Deputy CEO
Applicable Rating Criteria: Fund Stability Ratings (December 2020
https://docs.vis.com.pk/docs/FundstabilityRating.pdf