Press Release

Fund Stability Rating of Al-Ameen Islamic Aggressive Income Fund

Karachi, December 31, 2018: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating (FSR) of Al-Ameen Islamic Aggressive Income Fund (AIAIF) at ‘BBB+(f)’ (Triple B Plus (f)). The previous rating action was announced on December 29, 2017.

On monthly average basis, actual asset allocation of the fund remained in compliance with the stipulated limits, with sizeable maintenance of cash and exposure in corporate sukuks. Interest rate risk is considered manageable on account of lower duration maintained by the fund. Ability of the fund to meet redemptions in a timely manner is adequate given the unit holder concentration and asset allocation of the fund.

In line with its categorization, the fund’s ability to assume risk is on the higher side, with no minimum threshold defined for credit risk. Moreover, there is no restriction on time to maturity of a single security. As per the fund’s investment policy, Weighted Average Maturity (WAM) is capped at 5 years. WAM has remained in line with the specific limit in the outgoing fiscal year.

For further information on this rating announcement, please contact the undersigned (Ext: 207) or Mr. Javed Callea (Ext: 201) at 35311861-70 or fax to 35311872.

Jamal Abbas Zaidi

Applicable Rating Criteria: Fund Stability Ratings (September 2018)

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited VIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report.VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2018 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited