VIS Upgrades FSR For ABL Govt Securities Fund

Mohammad Ali (@ChaudhryMAli88) Published January 20, 2020 | 04:31 PM

VIS Credit Rating Company Limited has upgraded the Fund Stability Rating of ABL Government Securities Fund to single A Plus (f) from single A (f)

KARACHI, (UrduPoint / Pakistan Point News - 20th Jan, 2020 ) :VIS Credit Rating Company Limited has upgraded the Fund Stability Rating of ABL Government Securities Fund to single A Plus (f) from single A (f).

The previous rating action was announced on January 16, 2018, said a press release on Monday.

Launched in Nov.

2011, ABL GSF is designed to deliver risk adjusted returns by investing primarily in a diversified pool of debt instruments comprising short and long term government securities.

As per the fund's investment policy, minimum of 70% of the fund's assets must be deployed in government securities based on quarterly average investments to be calculated on a daily basis.

The rating upgrade takes into account the fund's strong creditquality, modest exposure to market risk and improving liquidity profile. Net assets declined to 2.8b (FY18: 3.1b) at end-FY19 while proportion of retail investments increased.