JCR-VIS Credit Rating Company Ltd has reaffirmed the fund stability rating of Pak Oman Advantage Fund (POAF) at 'AA-(f)' (Double A minus (f). 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 70 percent 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.-PR