Press Release
VIS Reaffirms Fund Stability Rating of Al Ameen Islamic Sovereign Fund
Karachi, December 31, 2025: VIS Credit Ratings Company Ltd. (VIS) has reaffirmed Fund Stability Rating (FSR) at ‘AA(f)’ (Double A (f)). The medium to long-term fund rating of ‘AA’ denotes high degree of stability in Net Asset Value. Risk is modest but may vary slightly from time to time because of changing economic conditions. The previous rating action was announced on January 09 2025.
Launched in November 2010, Al Ameen Islamic Sovereign Fund (AISF) is an open-end income fund, managed by UBL Fund Managers Limited. The objective of the scheme is to generate a competitive return with minimum risk, by investing primarily in Shariah Compliant Government Securities
During FY25, the Fund’s Assets Under Management grew significantly, with the portfolio primarily invested in GoP Ijarah, cash, and TFCs/Sukuk. Credit quality remained strong and in line with the stipulation, with investments predominantly allocated in Government/AAA rated assets. The weighted average time to maturity remained within the defined benchmark. The Fund’s liquidity profile is considered healthy, supported by a high proportion of liquid assets. Retail investor concentration declined in FY25. However, overall client concentration among top investors is considered moderate. Fund performance remained strong, outperforming both its benchmark and peer average.
For further information on this ratings announcement, please contact at 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