Press Release

JCR-VIS Finalizes Fund Stability Rating of AKD Cash Fund at AA+(f)

Karachi, April 11, 2012: On review of final constitutive documents, JCR-VIS Credit Rating Company Limited has finalized the Fund Stability Rating (FSR) of AKD Cash Fund (AKDCF) at AA+(f) (Double A Plus(f)).

As per the investment policy of the fund, at least 50% of net assets have to be invested in ‘AAA’ (Triple A) rated exposures. At end February 2012, 93% of total assets of the fund were deployed in T-bills. Remaining assets were parked in cash and cash equivalents with commercial banks having rating of AA.

Weighted average maturity of the fund’s assets was 34 days at end February 2012, in line with the maximum weighted average maturity of 60 days mandated in the investment policy, thus limiting the susceptibility of the fund’s net asset value to market risk.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 506) at 35311861-70 (10 lines) or fax to 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 April 11, 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.