Karachi: VIS Credit Rating Company Limited has assigned an initial Fund Stability Rating of 'AA+ (f)' to the HBL Mehfooz Munafa Fund Plan-I. The rating signifies a high degree of stability in the Net Assets Value, with modest risk that may vary due to economic conditions.

According to a statement by VIS Credit Rating Company Limited, HBL Mehfooz Munafa Fund Plan-I, launched on January 31, 2024, aims to provide competitive returns through active investments in low-risk, short-duration portfolios while maintaining high liquidity. The fund has seen its Assets Under Management grow to Rs. 5.7 billion as of October 31, 2024.

The rating reflects the plan's credit quality and asset allocation strategy, primarily investing in T-Bills. The plan's assets have consistently exceeded the minimum rating threshold of AA, with investments largely in government securities and AAA-rated securities. The fund has a maturity of one year, with 90% of its assets adhering to a weighted average maturity that does not exceed the plan's maturity.