Press Release

JCR-VIS Reaffirms Fund Stability Rating of HBL Money Market Fund

Karachi, December 26, 2018: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of HBL Money Market Fund (HMMF) at ‘AA (f)’ (Double A (f)). The previous rating action was announced on December 29, 2017.

HMMF is an open ended fund which offers high liquidity by investing in shorter duration securities. Net assets of the funds increased to Rs. 7.2b (FY17: Rs. 3.9b) at end-FY18. Assigned ratings take into account asset allocation in highly liquid investments and exposure in sound credit quality instruments. Moreover, during FY18 modified duration of the fund remained on the lower side indicating limited exposure to market risk. Maximum duration during FY18 was reported at 55 days at end-April’2018.

For further information on this rating announcement, please contact the undersigned (Ext: 207) or Mr. Javed Callea (Ext: 201) at 021-35311861-71 or fax to 021-35311872-3.




Jamal Abbas Zaidi
Advisor

Applicable Rating Criteria: Fund Stability Ratings (September 2018)
http://jcrvis.com.pk/docs/Fund%20stability%20Rating092018.pdf

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