Press Release
VIS Reaffirms Fund Stability Rating of HBL Income Fund
Karachi, December 29, 2025: VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) of HBL Income Fund (HIF) at ‘A+ (f)’ (Single A plus (f)). The medium to long-term rating of ‘A+ (f)’ denotes moderate degree of stability in Net Asset Value. Risk factors may vary with possible changes in the economy. Previous rating action was announced on March 03, 2025.
Launched in March 17, 2007, HBL Income Fund is an open-end fund which aims to provide a stable stream of income while maintaining a moderate level of risk.
The assigned rating reflects the Fund's asset allocation strategy, which largely conformed to the parameters outlined in the offering document. Investments were primarily concentrated in T-bills, PIBs, cash, MTS, and TFCs/Sukuks. The rating is further supported by the Fund's strong credit quality, with exposures predominantly in government securities and AAA-rated instruments, complemented by holdings rated AA, AA-, and A+. The Fund’s asset duration declined in FY25, while its liquidity profile is assessed as sound. Client concentration is considered manageable. Going forward, maintaining credit quality and market risk profile in line with assigned rating benchmarks will remain important.
For further information on this ratings announcement, please contact on 021-35311861-64 or email at info@vis.com.pk.
Applicable Rating Criteria: Fund Stability Ratings
https://docs.vis.com.pk/Methodologies-2025/FSR-Methodology-Jan-2025.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf