Press Release

VIS Upgrades Fund Stability Rating of Al-Ameen Islamic Aggressive Income Fund
 

Karachi, October 16, 2020: VIS Credit Rating Company Limited (VIS) has upgraded the Fund Stability Rating (FSR) of Al-Ameen Islamic Aggressive Income Fund (AIAIF) to ‘A(f)’ (Single A(f)) from (BBB+) (Triple B plus(f)). The previous rating action was announced on December 31, 2020.

The rating revision incorporates changes in the investment policy statement (IPS) of the fund whereby the fund can take maximum 15% exposure in ‘A-’ rated instruments/placements, with the remaining exposure being in ‘A’ and above rated instruments/placements. The upgrade is also supported by a revision in the duration of the fund being capped at 1.25 years. Actual asset allocation has remained in line with the assigned rating threshold with more 86% of the fund’s exposure being allocated in ‘AA-’ & above rated instruments. The fund’s actual asset allocation plan complies with the stipulated limits of the Offering Document (OD). Actual WAM and duration of the fund has remained in line with the threshold.

Launched in October 2007, Al-Ameen Islamic Aggressive Income Fund is an open-end Shariah Complaint Aggressive Income Fund designed to provide its investors with long-term risk adjusted returns through investments in medium to long-term Shariah Compliant income instruments and short-term money market securities in Pakistan.

For further information on this rating announcement, please contact Mr. Arsal Ayub, CFA (Ext: 216) or the undersigned (Ext: 207) or Mr. Javed Callea (Ext: 201) at (021) 35311861-66 or email at info@vis.com.pk.


Javed Callea
Advisor


Applicable Rating Criteria: Fund Stability Ratings (September 2018)
https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/Fund%20stability%20Rating092018.pdf

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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 2020 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .

VIS Credit Rating Company Limited