Press Release

JCR-VIS Reaffirms Fund Stability Rating of AKD Cash Fund

Karachi, May 30, 2013: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of AKD Cash Fund (AKD-CF) at ‘AA+(f)’ (Double A Plus(f)).

As a money market fund, the investment policy of the fund has been designed to limit exposure to low risk assets. The credit risk profile of the fund has remained aligned with the operational investment policy. However, the fund had assumed slightly higher interest rate risk vis-à-vis the policy limits, earlier in FY13. The management has reiterated its commitment to limit weighted average maturity of assets at under 60 days. Duration of the fund’s assets was recorded at 29 days at end March 2013 while the fund was invested in t-bills to the extent of 91.67% of assets. JCR-VIS will continue to track the risk profile of the fund on an on-going basis.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 604) at 35311861-70 (10 lines) or fax to 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 May 30, 2013 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.