Press Release

VIS Assigns Initial Fund Stability Rating to HBL Mehfooz Munafa Fund Plan-I

Karachi, March 03, 2025: VIS Credit Rating Company Limited (VIS) has assigned the initial Fund Stability Rating (FSR) of ‘AA+ (f)’ (Double A plus (f)) to HBL Mehfooz Munafa Fund Plan-I (‘HBL-MMFP-I’ or ‘the Plan’). The medium to long-term rating of ‘AA+ (f)’ denotes high degree of stability in Net Assets Value. Risk is modest but may vary slightly from time to time because of changing economic conditions.

HBL-MMFP-I was launched in January 31, 2024, with the primary objective to provide competitive returns to its investors through active investments in low-risk portfolios of short duration, while maintaining high liquidity. The Fund aims to maximize returns through efficient utilization of investment and liquidity management tools.

The assigned rating reflects the Plan’s credit quality and asset allocation strategy, which adheres to the parameters defined in the offering document, with the majority of investments allocated to T-Bills. Since its inception, the Plan’s Assets Under Management (AUM) have grown to Rs. 5.7b as of Oct 31, 2024.

The plan has consistently maintained its exposures above the minimum rating threshold of AA. Investments are predominantly held in Govt Sec/AAA-rated securities, underscoring the Plan's sound credit quality. Sustaining this credit quality will be critical rating, going forward. The Plan has a maturity of one year. In line with the offering document, the weighted average maturity (WAM) of 90% of assets does not exceed the Plan's maturity, ensuring compliance with stated parameters. HBL-MMFP-I has a higher concentration.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.




Applicable Rating Criteria: Fund Stability Ratings
https://docs.vis.com.pk/docs/-FundstabilityRating.pdf

VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf

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