Press Release

JCR-VIS Harmonizes Fund Stability Rating of HBL Money Market Fund

Karachi, March 29, 2012: Following the revision in fund stability rating methodology, JCR-VIS Credit Rating Company Limited has harmonized the fund stability rating (FSR) of HBL Money Market Fund (HBLMMF) from ‘AA+(f)’ (Double A Plus (f)) to ‘AA(f)’ (Double A (f)).

In line with the investment policy, at least 50% of net assets have to be invested in T-bills and remaining exposures by the fund are subject to minimum credit rating of ‘AA’. Maximum weighted average time to maturity of the net assets cannot exceed 90 days.

Actual asset allocation of the fund is aligned with the investment policy. At end- February 2012, 89% of the total assets of the fund were invested in T-bills and remaining were invested in Term Deposit Receipts with commercial banks having credit rating of AA+. Weighted average time to maturity of the fund at end-February 2012 was 85 days.

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 021-35311872-3.




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 March 29, 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.