Press Release

VIS Reaffirms Fund Stability Rating of UBL Money Market Fund

Karachi, January 13, 2022: VIS Credit Rating Company Limited has reaffirmed Fund Stability Rating (FSR) of UBL Money Market Fund (UMMF) at ‘AA+ (f)’ (Double A Plus (f)). The previous rating action was announced on January 6, 2020

UMMF operates as an open-end money market fund with the objective to provide investors exposure to money market instruments within a low risk portfolio. ‘’Asset quality of the fund was maintained with exposures largely concentrated in AAA rated exposures with asset allocation vested in largely short term Government securities and cash holdings. Liquidity profile also remains sound with low redemption pressure.

Fund performance however remained subdued with the fund underperforming the benchmark return as well as the peer average. Ranking among peers was also slightly impacted. Net assets of the fund declined in FY21 to Rs. 3b from Rs. 5b at the end of FY20.

For further information on this rating announcement, please contact Ms. Sara Ahmed (Ext: 207) or the undersigned (Ext: 306) at (021) 35311861-66 or email at

Faryal Ahmed Faheem
Deputy CEO

Applicable Rating Criteria: Fund Stability Ratings (December 2020)

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 2022 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .

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