JCR-VIS reaffirms fund stability rating of First Habib Cash Fund

MG News | December 26, 2018 at 11:14 AM GMT+05:00

0:00

December 26, 2018 (MLN): JCR-VIS Credit Rating Company Limited has reaffirmed the fund stability rating (FSR) of First Habib Cash Fund (FHCF) at ‘AA (f)’ (Double A(f)).

FHCF is an open-end money market fund; in line with its categorization, exposure to various sources of risks has been maintained at low end of the risk spectrum, both by policy and actual asset allocation.

The fund is mandated to hold assets with minimum rating of ‘AA’ and its constitutive documents also limit Weighted Average Maturity (WAM) at 90 days. Moreover, the fund has largely remained compliant with WAM guidelines during the review period.

Actual asset allocation has remained conservative with average exposure in ‘AA’ and above rated investment avenues. FHCF’s unit holding features concentration, however given the liquidity profile of assets, ability to meet redemptions is considered sound.

Net assets showcased an upward trend closing in at 2.8b (FY17: Rs. 1.04b) at end-June 2018. Subsequent to year-end, fund size stood at Rs. 2.7b as at end-November 2018.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	172,582.96 340.72M	1.03% 1752.74
ALLSHR	103,574.45 786.82M	0.63% 652.07
KSE30	52,791.38 180.74M	1.19% 621.89
KMI30	245,900.60 108.83M	1.21% 2940.29
KMIALLSHR	67,299.81 315.05M	0.78% 519.39
BKTi	47,910.29 93.99M	1.00% 474.69
OGTi	33,886.24 12.58M	1.54% 512.62

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,185.00	90,115.00 87,355.00	1435.00 1.64%
BRENT CRUDE	62.32	62.67 62.15	0.08 0.13%
RICHARDS BAY COAL MONTHLY	87.50	0.00 0.00	1.30 1.51%
ROTTERDAM COAL MONTHLY	94.50	0.00 0.00	-0.70 -0.74%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	58.52	58.88 58.31	0.17 0.29%
SUGAR #11 WORLD	15.30	15.34 15.16	0.10 0.66%