Karachi, January 27, 2022 (PPI-OT):VIS Credit Rating Company Ltd. (VIS) has withdrawn the Fund Stability Rating of ‘AA+ (f)’ (Double A Plus (f)) assigned to BMA Empress Cash Fund (BECF) with immediate effect due to winding up of the scheme. BMA Asset Management Company Limited has decided to wind up the fund, effective January 7, 2022 due to heavy redemptions leading to decline in fund size below the minimum regulatory requirement of PKR 100 million. The previous rating action was announced on December 31, 2020.
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/