Japan Credit Rating –Vital Information Services Reaffirms Fund Stability Rating of JS Cash Fund

Karachi: JCR-VIS Credit Rating Company Limited has reaffirmed the fund stability rating (FSR) of JS Cash Fund (JSCF) at ‘AA+(f)’ (Double A Plus(f)).

The operational investment policy of the fund along with its actual asset allocation depicts low exposure to credit, market and liquidity risk. At February-end 2012, exposure in government securities represented 65% of net assets and remaining net assets were placed in deposits with banks having rating of at least ‘AA’. With the change in operational investment policy of the fund, whereby duration is now capped at 60 days, exposure to interest rate risk is expected to be further reduced.

While investor profile features high concentration, the ability of the fund to meet redemptions is considered sound owing to strong liquidity profile of exposures held by the fund. The fund may nevertheless benefit from a diversified investor base.

For more information, contact:
Mr. Javed Callea
Advisor
JCR-VIS Credit Rating Company Limited
Tel: +9221 35311861 (10 lines) (Ext: 501)
Fax: +9221 35311872-3
E mail: javed.callea@jcrvis.com.pk

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