PACRA UPGRADES MUTUAL FUND RATINGS OF

NATIONAL INVESTMENT (UNIT) TRUST

 

Lahore: October 08, 2003

The Pakistan Credit Rating Agency (PACRA) has upgraded the mutual fund rating of National Investment (Unit) Trust to 'AA(f)' (double A) from 'A(f)' (single A).

The rating reflects NI(U)T's demonstrated ability to outperform its peers and also its strong capacity to respond to future opportunities and stress situations. Having restructured its investment portfolio, the Fund is now well positioned to maintain a stable inflow of dividend income and adequate liquidity. This has been an outcome of the drive and initiative exhibited by the top management since the induction of the new Chief Executive. PACRA, therefore, remains concerned about the continuity of the top management and will continue to monitor the sustainability of the fund management strategy in the event of any change in top management.