Press Release

JCR-VIS Assigns Fund Stability Rating of AA(f) to HBL Islamic Money Market Fund

Karachi, December 30, 2011: JCR-VIS Credit Rating Company Limited has assigned Fund Stability Rating (FSR) of ‘AA(f)’ (Double A (f)) to HBL Islamic Money Market Fund (HBL IMMF) launched by HBL Asset Management Limited.

The investment policy and actual asset allocation of fund reflect low exposure to credit, market and liquidity risk; thus, NAV of the fund is expected to depict high degree of stability. According to its investment policy, minimum credit rating criteria for investments is ‘AA’. Also, as a money market fund, weighted average maturity of the fund cannot exceed 90 days. Actual asset allocation of the fund has been in line with its investment policy. At end-November 2011, cash and bank balances comprised 99% of net assets and weighted average maturity of the fund was 78 days.

For further information on this rating announcement, please contact the undersigned (Ext: 501) or Ms. Sabeen Saleem, CFA (Ext: 510) at 35311861-70 (10 lines) or fax to 35311872-3.



Javed Callea
Advisor

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