Press Release

JCR-VIS Harmonizes Fund Stability Ratings of ABL Cash Fund

Karachi, April 06, 2012: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has harmonized the Fund Stability Rating of ABL Cash Fund at ‘AA+( f)’ (Double A Plus (f)).

The rating incorporates the shift in fund’s operational policy, whereby duration of the fund is now targeted at 60 days, with an aim to reduce the fund’s exposure to market risk. Actual duration was recorded at 56 days as of February-end 2012. Given the credit quality of the fund’s current portfolio and exposure limits outlined in the operational policy, credit risk thereon is also expected to remain low. At February-end 2012, exposure in government securities comprised 82% of net assets. Remaining net assets comprised bank placements with counter parties having minimum credit rating of ‘AA’.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 506) at 021-35311861-70 or fax to 021-35311873.




Jamal Abbas Zaidi
Deputy CEO

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 April 06, 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.