Press Release
VIS Upgrades Fund Stability Rating of Al-Ameen Islamic Aggressive Income Fund
Karachi, January 06, 2021: 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 plus (f)) from (A (f)) (Single A (f)). The previous rating action was announced on October 15, 2020.
The rating action incorporates updated ‘FUND STBILITY RATING methodology https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/FundstabilityRating.pdf which can be found on our website for reference’.
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 complied with the stipulated limits of the Offering Document (OD). Actual WAM and duration of the fund has also 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 (Ext: 216) or the undersigned (Ext: 306) at (021) 35311861-66 or email at info@vis.com.pk
Faryal Ahmed Faheem
Deputy CEO
Applicable Rating Criteria: Fund Stability Ratings (December 2020
https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/FundstabilityRating.pdf