Karachi, January 13, 2022 (PPI-OT):VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) of UBL Government Securities Fund (UGSF) at ‘AA (f)’ (Double A (f)). Previous rating action was announced on January 6, 2021.

UGSF aims towards achieving the objective to earn competitive returns by investing primarily in sovereign instruments and government paper. The fund’s offering document (OD) points to a conservative credit risk profile suggesting that it restricts and limits its primary exposure in sovereign instruments and cash holdings in order to preserve a liquid asset mix.

The fund complied with the credit quality requisites for the assigned ratings with sizeable investments in ‘AAA’ rated instruments. Weighted average maturity of the portfolio also remained compliant with the Offering Document and the benchmark for assigned rating. Liquidity remained sound with investments majorly in liquid securities which also provided comfort against higher market risk exposure. Retail proportion in the fund remains high while top 10 investor concentration is moderate.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/