JCR-VIS Reaffirms Fund Stability Rating of HBL Income Fund
Karachi, December 29, 2017 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating (FSR) of HBL Income Fund (HBL IF) at ‘A(f)’ (Single A (f)). The previous rating action was announced on January 05, 2017. HBL IF aims to provide a stable stream of income with a moderate to low risk investment strategy. Actual asset allocation was in alignment of its internal policy guidelines.
Moreover, adequate liquidity level was maintained as signified by a sizeable portion of net assets held as cash and in saving accounts. On average, approximately 75% of the investments were parked in ‘AA-’ and above rated securities; ensuring a conservative risk profile. Furthermore, Weighted Average Time to Maturity (WATM) and duration remained within the specified limits as per the operational investment policy. Going forward, rating of the fund will remain dependent on complying with credit risk policy and maintaining duration of the fund in line with JCR-VIS’s criteria for the assigned rating.
For more information, contact:
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi