PACRA assigns initial stability ratings to UBL Cash Fund

MG News | November 20, 2018 at 10:36 AM GMT+05:00

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November 20, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has assigned initial stability ratings of ‘AA+ (f)’ for long-term to UBL Cash Fund.

The outlook forecast for the ratings is stable.

According to the rating agency, the rating reflects the fund's projected very strong credit risk profile emanating from the investment strategy to invest in high credit quality investment avenues with sound liquidity.

The projected asset allocation of the fund includes 35% Bank Deposits in 'AA and above rated' banks, 15% Placements with DFIs 'rated AA and above' and 50% in short-term government securities subject to limits as defined in OD.

As per the press release, the unit holding pattern of the fund would be concentrated with approximately 80% institutional and retail investors, where one investor can only acquire up to 10% of the total units of the fund.

Meanwhile, the group's own investment would represent approximately 10% - 20% in total portfolio.

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