JCR-VIS Reaffirms Fund Stability Rating of KASB Cash Fund

Karachi: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of KASB Cash Fund (KCF) at ‘AA+(f)’ (Double A Plus(f)).

KCF is an open end money market fund managed by KASB Funds Limited (KFL). The fund targets to maintain exposure of at least 50% in t-bills under normal circumstances, with the remaining to be deployed in bank deposits and reverse repo transactions.

Actual allocation to t-bills had declined significantly, with only about 7% deployed in this avenue at end-January 2012. Investment in t-bills has been increased to 55% by end February 2012. Alignment with policy will continue to be closely tracked by JCR-VIS on an on-going basis.

As per policy, time to maturity of any asset shall not exceed six months and weighted average time to maturity of net assets shall not exceed 60 days. Actual weighted average time to maturity of assets was 23 days at end-January 2012.

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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