Press Release
VIS Reaffirms Fund Stability Rating of UBL Growth and Income Fund
Karachi, December 31, 2019: VIS Credit Rating Co. Ltd. (VIS) has reaffirmed the Fund Stability Rating (FSR) of UBL Growth and Income Fund (UGIF) at ‘A (f)’ (Single A (f)). The previous rating action was announced on December 31, 2018.
UGIF was launched in March 2006, as a fixed income fund with an aggressive asset allocation mandate. The rating of UGIF takes into account existence of floor of 75% in relation to exposure in ‘A’ or higher rated investment avenues, as per the fund’s operational investment policy. Rating also factors in the fund’s policy to restrict weighted average duration under 1 year, indicating manageable exposure to market risk.
Actual asset allocation of the fund has primarily been maintained in ‘A’ or higher rated securities. The fund size has witnessed an increase during FY19. Liquidity profile is supported by sizeable holding of cash and bank balances.
For further information on this rating announcement, please contact Mr. Talha Iqbal (Ext: 213) or the undersigned (Ext: 201) at (021) 35311861-66 or email at info@vis.com.pk.
Javed Callea
Advisor
Applicable Rating Criteria: Fund Stability Ratings (December 2017)
http://vis.com.pk/kc-meth.aspx
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