The JCR-VIS Credit Rating Co Ltd has assessed the fund performance ranking of NAFA Cash Fund (NCF) at 'MFR' 5-Star for the one-year period ended June 30, 2007. For the period under review, NCF posted a return of 10.76 percent, and had a Fund Stability Rating of 'A (f)' (Single A (f)).
Since its launch, NAFA Cash Fund has focused on two objectives ie earning competitive returns and minimising the risk (volatility) of those returns. The strategy paid off as the risk adjusted return, provided by the Fund, had consistently been the highest in the fixed income funds category.
The unit price of the Fund did not go down even by one paisa on any day since the launch of the Fund 18 months ago. The investors seem to appreciate this. In less than two years, NCF has become the largest fixed income fund in the country, with assets under management of Rs 20.9 billion.-PR