The rating was assigned based on the Fund’s portfolio as of July 30, 2010. The rating reflects that the Fund’s underlying assets provide adequate protection against losses from credit defaults. Increasing portion of liquid assets placed in custodian bank to 10.8% as of July 30, 2010 from 3.7% as of June 30, 2010 has compensated lower portion of sovereign papers as well as “AA” and “A” rating category assets to 70.4% from 77.0%. Although sovereign papers are not rated by PEFINDO, we believe that they have the strongest credit quality among debt instruments issued in the country. Therefore, PEFINDO assumes government papers to have “AAA” rating.
PT. PNM Investment Management is an asset management company, which is 99% owned by PT.
Permodalan Nasional Madani (Persero), a state- owned company engaged in the development of micro, small, and medium enterprises and co-operatives. PT. PNM Investment Management is the result of the acquisition of PT. Rashid Hussain Asset Management by PT. Permodalan Nasional Madani in 1999. PT. Rashid Hussain Asset Management obtained the investment management license from Bapepam-LK based on its letter 01/PM/MI/1998 dated January 27, 1998.
Source : http://new.pefindo.com/r_releasedetail.php?cid=714 - Aug 27, 2010
No comments:
Post a Comment