Press Release

VIS Reaffirms Fund Stability Rating of Faysal Islamic Savings Growth Fund

Karachi, Dec 31, 2025: VIS Credit Rating Company Ltd. (VIS) has reaffirmed Fund Stability Rating (FSR) of Faysal Islamic Savings Growth Fund (‘FISGF’ or ‘the Fund’) at ‘A+ (f)’ (A Plus (f)). The medium to long-term rating of ‘A+’ denotes moderate degree of stability in Net Asset Value; Risk factors may vary with possible changes in the economy. The previous rating action was announced on December 27, 2024.

Launched in July 2010, FISGF is an open-end income fund. The objective of the fund is to provide maximum possible preservation of capital and a reasonable rate of return via investing in Shariah Compliant money market and debt securities having good credit quality rating and liquidity.

The assigned ratings consider the Fund’s asset allocation, with Assets Under Management (AUM) expanding by 81% to PKR 2.3 billion, supported by increased investor participation. The portfolio allocation shifted toward lower-risk instruments, with GoP Ijara increasing significantly, while cash holdings declined. Credit quality improved, with AAA rated instruments representing the majority of the portfolio, reflecting a conservative credit stance aligned with the offering document requirements.

The Fund maintained a Weighted Average Maturity (WAM) well below the regulatory ceiling, with duration remaining low, limiting interest rate sensitivity. Liquidity risk remained relatively higher due to increased investor concentration; however, the Fund’s liquid asset position continued to be comfortable. The Fund generated a total return of 15.43% in FY25, outperforming its benchmark and peer group and ranking in the first quartile among comparable funds.

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

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 31, 2025 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.