Press Release

VIS Reaffirms Fund Stability Rating of ABL Islamic Income Fund

VIS Credit Rating Co. Ltd. (VIS) has reaffirmed the Fund Stability Rating of ABL Islamic Income Fund (the Fund) at 'AAA(f) (Triple A (f))'. The previous Fund Stability Rating was affirmed on January 18th, 2022.

The rating is derived on the basis of the Fund's performance over the preceding 12 months. It is based on the Fund's ability to generate regular income, maintain asset liquidity, and maintain a stable asset mix. The Fund has also been able to maintain a strong credit quality and its portfolio has remained in line with the requirements of the Investment Policy Statement.

ABL Islamic Income Fund is an open-end Shariah Compliant investment scheme managed by ABL Asset Management Company Limited, with Central Depository Company of Pakistan Limited acting as Trustee. The Fund has a management fee of 1.0% p.a., and a front-end load of 1.5%. The Fund's objective is to provide investors with an opportunity to earn higher income over the medium to long term by investing in a diversified portfolio comprising Shari’ah compliant money market and debt instruments.

The Fund has been able to maintain a strong asset class distribution and credit quality, with exposure to Government Securities, Sukuks issued by Government and corporate Entities, Term Deposit Receipts, and Shari’ah compliant money market instruments.

The Fund has been able to meet its investment objective, with a total return of 8.63% based on 365 days, outperforming its benchmark of 3.81%. The Fund has also been able to maintain a strong liquidity profile and its investor profile has remained skewed towards retail investors.

For further information on this rating announcement, please contact the undersigned or Ms. Syeda Batool Zehra Zaidi, Analyst at 021-35311861-70 or mail to info@vis.com.pk.

Javed Callea
Advisor
Applicable Criteria: Investment Funds Rating Criteria (May 2019)

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 December 30, 2022 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.