Press Release

VIS Reaffirms Fund Stability Rating for ABL Islamic Cash Fund

Karachi, December 31, 2020: VIS Credit Rating Company Limited (VIS) has reaffirmed Fund Stability Rating (FSR) of ‘AA (f)’ (Double A(f)) to ABL Islamic Cash Fund (ABL ICF) Previous rating action was announced on September 17, 2020.

Launched in February’ 2020, ABL ICF operates as a Shariah compliant money market fund. During the first year of operation the net assets of the fund manifested an increase, net assets were reported at Rs. 1.5b at end-June’20. In order to cater to its mandate, the fund maintains low exposure to risk. Consequently, pre-defined limits have been stated in order to limit deployment in different asset classes. The actual credit quality of exposures remained in line with VIS criteria and the revised IPS. There was also no breach in duration of the fund during the review period.

For further information on this rating announcement, please contact Ms. Asfia Aziz or the undersigned (Ext. 301) at 021-35311861-70 or email at info@vis.com.pk.



Faheem Ahmad
President & CEO

Applicable Rating Criteria: Fund Stability Ratings (December 2020)
https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/FundstabilityRating.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, 2020 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.