Press Release

JCR-VIS assigns Fund Stability Rating of A+(f) to ABL Government Securities Fund

Karachi, January 9, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned Fund Stability Rating of ‘A+(f)’ (Single A Plus(f)) to ABL Government Securities Fund (ABL GSF).

ABL GSF is an open-end income fund launched by ABL Asset Management Company Limited with an objective to provide optimal risk-adjusted returns through investments in short to long term government securities and other debt instruments.

The rating takes into account the operational investment policy of the fund, which specifies target duration of 6 months and a minimum of 90% of net assets to be allocated to government securities, including reverse repurchase transactions there against, and cash in banks (excluding TDRs) rated at least AA-. Time to maturity of government securities in case of reverse repo transactions can however be up to 1 year for treasury bills and up to 3 years in case of Ijara Sukuks. The fund does not have necessary approvals to undertake overseas investments at present and investors will be updated with any change in plans in this respect.

For further information on this rating announcement, please contact Mr. Javed A. Callea (Ext: 501) 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 09, 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.