Press Release

JCR-VIS Assigns Fund Stability Rating of AA(f) to HBL Islamic Money Market Fund

Karachi, December 30, 2011: JCR-VIS Credit Rating Company Limited has assigned Fund Stability Rating (FSR) of ‘AA(f)’ (Double A (f)) to HBL Islamic Money Market Fund (HBL IMMF) launched by HBL Asset Management Limited.

The investment policy and actual asset allocation of fund reflect low exposure to credit, market and liquidity risk; thus, NAV of the fund is expected to depict high degree of stability. According to its investment policy, minimum credit rating criteria for investments is ‘AA’. Also, as a money market fund, weighted average maturity of the fund cannot exceed 90 days. Actual asset allocation of the fund has been in line with its investment policy. At end-November 2011, cash and bank balances comprised 99% of net assets and weighted average maturity of the fund was 78 days.

For further information on this rating announcement, please contact the undersigned (Ext: 501) or Ms. Sabeen Saleem, CFA (Ext: 510) at 35311861-70 (10 lines) or fax to 35311872-3.



Javed Callea
Advisor

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, 2011 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.