Press Release

JCR-VIS Suspends Rating of KASB Funds Limited

Karachi, October 21, 2015: JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) has suspended the Management Quality (MQ) rating of KASB Funds Limited (KFL) with immediate effect. KFL was assigned a MQ rating of ‘AM3’ (AM-Three) placed under ‘Rating Watch Developing’ status, announced on May 29, 2015.

Moreover, Fund Stability Ratings of KASB Cash Fund (AA(f)), KASB Income Opportunity Fund (BB+(f)) and KASB Islamic Income Opportunity Fund (BBB-(f)) are also being suspended. Previous rating actions of the same were announced on February 16, 2015.

The suspension is on account of prevailing uncertainty of future ownership of the management company as well as the non-availability of sufficient information currently required for the assessment of ratings. Ratings will be re-assessed as and when the issue is resolved.

For further information on this rating announcement, please contact Mr. Jamal Abbas Zaidi (Ext: 516) or Mr. Javed Callea (Ext: 501) at 35311861-3 or fax to 35311872.


Mohammed Khalid Ali
Advisor

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 October 21, 2015 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.