Press Release
VIS Reaffirms Fund Stability Rating of Meezan Daily Income Plan-I
Karachi, December 16, 2025: VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) of Meezan Daily Income Plan-I at ‘AA-(f)’ (Double A Minus (f)). Medium to long-term fund rating of ‘AA-(f)’ reflects high degree of stability in Net Asset Value; Risk is modest but may vary slightly from time to time because of changing economic conditions. Previous rating action was announced on January 06, 2025.
Launched in September 2021, MDIP-I is an Asset Allocation Plan under the Meezan Daily Income Fund (MDIF) scheme which is a Shariah compliant open end Income Scheme. The objective of the plan is to provide investors with a competitive rate of return, together with daily payout, through investment in Shariah Compliant Fixed Income Instruments.
The rating reflects an asset allocation strategy that remained broadly in line with offering document limits. The portfolio maintained diversification across Shariah-compliant government securities, cash, Bai Muajjal placements, bank and DFI placements, and Sukuk. Credit quality improved, with a higher share of AAA-rated exposures and no investments below A+, in line with mandate requirements. Duration risk was well controlled, and liquidity remained strong due to a high proportion of liquid assets. The investor base stayed predominantly retail, though its share moderated, and concentration remained low. The Fund ranked in the third quartile and, after the benchmark revision, trailed its benchmark on a month-on-month basis in the latter part of the review period.
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