Press Release

JCR-VIS Reaffirms Fund Stability Rating of AKD Cash Fund

Karachi, May 30, 2013: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of AKD Cash Fund (AKD-CF) at ‘AA+(f)’ (Double A Plus(f)).

As a money market fund, the investment policy of the fund has been designed to limit exposure to low risk assets. The credit risk profile of the fund has remained aligned with the operational investment policy. However, the fund had assumed slightly higher interest rate risk vis-à-vis the policy limits, earlier in FY13. The management has reiterated its commitment to limit weighted average maturity of assets at under 60 days. Duration of the fund’s assets was recorded at 29 days at end March 2013 while the fund was invested in t-bills to the extent of 91.67% of assets. JCR-VIS will continue to track the risk profile of the fund on an on-going basis.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 604) at 35311861-70 (10 lines) or fax to 35311872-3.



Javed Callea
Advisor

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