JCR-VIS Reaffirms Fund Stability Rating of ABL Income Fund

Karachi, January 16, 2019 (PPI-OT): Stability Rating of ABL Income Fund (ABL IF) at ‘A(f)’ (Single A(f)). Previous rating action was announced on 16th January 2018. ABL-IF is an open end fund launched in September 2008. The operational policy of the fund stipulates that a quarter of assets must be deployed in cash and near cash instruments.

On average, the fund maintained around half of exposure in cash and bank balances with TFCs and government securities comprising remaining investments. Credit quality of exposures has remained in line with JCR-VIS’s criteria for the assigned rating with investment exposure in securities rated ‘A+’ and above. Net assets of the fund decreased to Rs. 2.8b (FY17: Rs. 3.9b) at end-FY18. There was no duration breach according to internal and JCR-VIS set policies.

For more information, contact:
Director Compliance and Rating Analytics,
JCR-VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: http://jcrvis.com.pk/