JCR-VIS finalises fund rating of FMMF at AA+(f)

On review of final constitutive documents, JCR-VIS Credit Rating Company Limited has finalised the Fund Stability Rating (FSR) of Faysal Money Market Fund (FMMF) at AA+(f) (Double A Plus(f). Launched on December 13, 2010, FMMF has been structured, as an open end money market scheme. As a money market Fund, investments by the fund are subject to minimum credit rating of AA (Double A).
Furthermore, at a minimum, 50 percent of net assets of FMMF will be maintained in t-bills, going forward. Weighted average time to maturity of fund's assets is capped at 90 days. In view of this, investment policy of the fund signifies low credit and market risk.-PR