December 07, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained the following stability ratings for JS Mutual Funds:
JS Cash Funds
PACRA has maintained the long term stability rating of JS Cash Funds at ‘AA+(f)’, with a ‘stable’ outlook forecast.
According to the agency, the rating reflects the fund's low risk profile emanating from sizeable allocation of assets towards highly liquid, low credit risk avenues.
“Material changes in the fund's asset allocation strategy could negatively impact the fund's credit quality and exposure to interest rate risk remains critical for the rating,” said PACRA
JS Islamic Income Fund
The credit rating agency has maintained the long term stability rating of JS Islamic Income Fund at ‘AA-(f)’, with a ‘stable’ outlook forecast.
A press release in this regard apprises that the Material changes in the fund's asset allocation strategy, which could impact the fund's credit quality and exposure to interest rate risk, remains critical for the rating. “PACRA would monitor performance against agreed parameters on monthly average basis,” adds the notification.
JS Income Fund:
The agency has also maintained the long term stability rating of JS Income Fund, at ‘A+(f)’, with a ‘stable’ outlook forecast.
According to PACRA, the rating reflects the fund's good credit quality and liquidity profile emanating from sizeable allocation of assets in daily cash balances.
It goes on to add that “Material changes in the fund's asset allocation strategy, which could negatively impact the fund's credit quality and exposure to interest rate risk, remains critical for the rating.”
