Pakistan Credit Rating Agency (PACRA) has upgraded the stability rating of NAFA Government Securities Liquid Fund (NGSLF) to 'AAA (f)' (previous rating: 'AA+ (f)). NGSLF is an open-end short-term Government Securities money market fund. The Fund's rating denotes an exceptionally strong capacity to manage relative stability in returns and negligible exposure to risks.
The objective of the Fund is to generate optimal return with minimum risk, and to provide a highly liquid avenue to its unit holders. The Fund will invest a minimum of 85 percent in short-term Government Securities and the remaining in AA and above rated banks. The Fund's maturity will not exceed 45 days. The Fund was launched 15 months ago, and is presently over Rs 7 billion in size. The annualised return on the Fund since its inception has been 10.67 percent.-PR
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