PACRA Assigns Initial Stability Rating to AWT Money Market Fund - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- May 17, 2021 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

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The rating reflects AWT Money Market Fund's (Or the "Fund") sound credit risk profile emanating from the Fund's investment policy to invest in strong credit quality investment avenues with sound liquidity. Currently, AWT Investments is managing four funds in Income and Equity category. In order to diversify its fund slate further, the AMC is in process of converting existing asset allocation fund into Money Market category.

The investment policy of the Fund strictly prohibits investment in below 'AA' rated avenues. The assigned rating is based on investment philosophy of the Fund to invest in at least three 'AAA' rated banks and will cap its average quarterly duration at 60 days. This is expected to allow the Fund to maintain low level of price risk and strong liquidity profile. The rating takes into account the investment objective of the Fund, which is to provide consistent returns with high level of liquidity. The benchmark return of...