JCR-VIS Credit Rating Company Ltd (JCR-VIS) has revised the Fund Stability Rating of ABL Islamic income Fund (formerly ABL Islamic Cash Fund) from 'AA (f)' (Double A (f)) to 'A+(f)' (Single A Plus (f)). The Rating Watch - Developing' status has been removed on finalisation of investment policy.
In line with the change in the fund's categorisation, the investment policy has been revised with the minimum rating threshold for counter party exposures now being 'A+' (Single A Plus). A minimum of 2S% of net assets are to be invested in Shari'ah compliant government securities. Furthermore, the fund may also assume exposure in spread transactions to the extent of 20% of net assets. Other approved investment avenues include Sukuks and placements/bank deposits. Targeted duration of the fund is 6 months.-PR
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