Press Release

VIS Withdraws Fund Stability Rating of BMA Empress Cash Fund

Karachi, January 27, 2022: VIS Credit Rating Company Ltd. (VIS) has withdrawn the Fund Stability Rating of ‘AA+ (f)’ (Double A Plus (f)) assigned to BMA Empress Cash Fund (BECF) with immediate effect due to winding up of the scheme. BMA Asset Management Company Limited has decided to wind up the fund, effective January 7, 2022 due to heavy redemptions leading to decline in fund size below the minimum regulatory requirement of PKR 100 million. . The previous rating action was announced on December 31, 2020.


For further information on this rating announcement, please contact Ms. Sara Ahmed (Ext 207) or the undersigned (Ext: 306) at (021) 35311861-66 or email at info@vis.com.pk.






Faryal Ahmad Faheem
Deputy CEO

Applicable Rating Criteria: Fund Stability (December 2020)
https://docs.vis.com.pk/docs/FundstabilityRating.pdf

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 January 27, 2022 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.