Press Release

JCR-VIS finalizes ‘A+(f)’ Fund Stability Rating assigned to PICIC Income Fund

Karachi, July 29, 2010: JCR-VIS Credit Rating Company Limited has finalized the preliminary fund stability rating (FSR) of PICIC Income Fund (PICIC IF) at ‘A+(f)’ (Single A Plus (f)).

PICIC-IF is an open-end income fund launched by PICIC Asset Management Company Limited with an objective to provide consistent returns to its investors through active investment in a mix of short, medium and long term debt instruments. To keep liquidity risk low, the fund will place 25% of its assets in cash and near cash instruments, including short-term government securities. Furthermore, to maintain sound credit risk profile, the management has also restricted itself to invest in fixed income instruments carrying minimum rating of ‘A+’.

For further information on this rating announcement, please contact Mr. Safdar Kazi (Ext: 604) or Mr. Zia Usmani (Ext: 507) at (+92-21) 35311861-70 or fax to (+92-21) 35311872-3.



Javed Callea
Advisor

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