Karachi: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of Meezan Cash Fund (MCF) at ‘AA(f)’ (Double A (f)).
Actual asset allocation of the fund and associated risk profile has remained in line with the limits defined in the investment policy. At end-November 2011, the exposures taken by the fund were entirely with ‘AA+’ and ‘AA’ rated counterparties.
The fund’s exposure to profit rate risk has also remained aligned with investment policy, whereby, duration of the fund has been maintained below 90 days. Thus, overall risk profile of the fund is considered sound.
Given the low susceptibility of the fund’s NAV to credit and market risk, returns posted by the fund have been consistent. Net assets have registered growth amounting to Rs. 6.5b at November-end 2011.
Investor profile continues to feature concentration; however, as majority of the funds are invested in highly liquid avenues, ability of the fund to meet redemptions in a timely manner is considered sound.
For more information, contact:
Mr. Javed Callea
JCR-VIS Credit Rating Company Limited
Tel: +9221 35311861 (10 lines) (Ext: 501)
Fax: +9221 35311872-3
E mail: firstname.lastname@example.org