Press Release

VIS Reaffirms Fund Stability Rating of UBL Government Securities Fund

Karachi, December 31, 2019: VIS Credit Rating Co. Ltd. (VIS) has reaffirmed the Fund Stability Rating of UBL Government Securities Fund (UGSF) at ‘A+(f)’ (Single A Plus(f)). The previous rating action was announced on December 31, 2018.

Net assets remained volatile during FY19 although ending the year at a higher level. By end-November 2019, net assets depicted further growth. The offering document (OD) of the fund restricts exposure in government securities and AA- rated or above, with at least 70% in sovereign instruments. During FY19, the fund complied with the asset allocation requirement in its investment policy whereby the fund base was invested minimum 70% in government securities. The fund’s investments have sound credit quality as evident from exposure in AA- and above rated instruments. Given the quality of assets and unit-holder profile, ability to meet redemptions in a timely manner is expected to remain strong.

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

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 2019 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .