Press Release

Fund Stability Rating of ABL Islamic Income Fund

Karachi, January 10, 2012: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has revised the Fund Stability Rating of ABL Islamic Income Fund (formerly ABL Islamic Cash Fund) from ‘AA(f)’ (Double A (f)) to ‘A+(f)’ (Single A Plus(f)). The ‘Rating Watch - Developing’ status has been removed on finalization of investment policy.

In line with the change in the fund’s categorization, the investment policy has been revised with the minimum rating threshold for counterparty exposures now being ‘A+’ (Single A Plus). A minimum of 25% of net assets are to be invested in Shari’ah compliant government securities. Furthermore, the fund may also assume exposure in spread transactions to the extent of 20% of net assets. Other approved investment avenues include Sukuks and placements/bank deposits. Targeted duration of the fund is 6 months.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 510) or Ms. Sobia Maqbool, CFA (Ext: 506) at 021-35311861-70 or fax to 021-35311873.



Jamal Abbas Zaidi
Deputy CEO

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 January 10, 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.