KARACHI, Dec 27: The JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the fund stability rating of Pak-Oman Advantage Fund (POAF) at ‘AA-(f)’ (Double A minus (f)).
The POAF aims to provide returns from a portfolio of fixed income securities that carry minimal credit, liquidity and price risks. The fund is structured as a closed-end scheme with a limited life of eight years.
More than 70pc of the fund’s assets have been deployed in highly rated Term Finance Certificates (TFCs). The residual maturities of TFCs in the portfolio are less than the duration of the fund.
Once the maturities of the underlying instruments commence, the fund will invest in other short term fixed income instruments, though risk profile will be maintained throughout the life of the fund.
JCR-VIS has also assigned fund stability rating of ‘A(f)’ (Single A (f)) to Pak-Oman-Bank of Punjab Advantage Plus Fund (PAPF). This is an open-end income fund, launched with the objective of providing a stable stream of income with a moderate level of risk. All investments in fixed income instruments are required to have a minimum rating of ‘A’.
