Press Release

JCR-VIS assigns Fund Stability Rating of AA+(f) to BMA Empress Cash Fund

Karachi, October 26, 2009: JCR-VIS Credit Rating Company Limited has assigned fund stability rating (FSR) of ‘AA+(f)’ (Double A Plus (f)) to BMA Empress Cash Fund (BECF).

Planned to be launched by BMA Asset Management Company Limited (BMA), BECF is structured as an open end money market fund. The fund’s objective is to provide maximum risk adjusted investment earnings, minimize risk and maintain adequate liquidity. The fund aims to maintain the safety of principal, maintain liquidity to meet cash flow needs and provide competitive investment returns for the unit holders by investing in a portfolio constituted of high quality, short term instruments, comprising largely of cash deposits and short term government securities.

Liquidity needs will be managed through a minimum cash reserve requirement of 10% of net assets. Both credit and interest rate risks are expected to be minimal in view of the fund’s investment policy of limiting exposure to ‘AA’ and above rated issues/issuers and a targeted weighted average time to maturity of 90 days. Maximum maturity of a single instrument may also not exceed 6 months. Per party exposure limit stipulated at 10% of net assets, as per the investment policy, is expected to result in a diversified investment portfolio.

For further information on this rating announcement, please contact Ms. Sabeen Saleem (Ext: 510) or Ms. Sobia Maqbool (Ext: 506) at 021-35311861-70 or fax to 021-35311872-3.



Faheem Ahmad
President & 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 2009 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .