Press Release

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

Karachi, October 21, 2013: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of HBL Money Market Fund (HBLMMF) at ‘AA(f)’ (Double A (f)).

Investment objective of the fund is to seek high liquidity and comparative return for investors by investing in low risk securities of shorter duration and maturity. As per its mandate, investment made by the fund, other than those maintained in government securities are subject to minimum credit rating of ‘AA’. In case of funds placed with NBFCs/ modaraba, rating shall not be lower than ‘AAA’. Time to maturity of a single instrument cannot exceed six months, with Weighted Average Maturity (WAM) of the fund’s net assets capped at 90 days.

Asset allocation of the fund has remained aligned with the investment policy and accordingly, the fund’s exposure to credit and market risk has been maintained on the lower end of the risk spectrum. At end June 2013, almost 85% of the fund’s assets were deployed in government securities and WAM of the fund’s assets was 62 days. Over the last year, improvement has been noted in the concentration level in unit-holders’ profile.

For further information on this rating announcement, please contact the undersigned (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 506) at 021-35311861-70 or fax to 021-35311872-3.




Javed Callea
Advisor

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 October 21, 2013 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.