Press Release
VIS Reaffirms Fund Stability Rating of HBL Financial Sector Income Fund Plan-I
Karachi, December 29, 2025: VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of ‘A+ (f)’ (Single A plus (f)) to HBL Financial Sector Income Fund Plan-I (‘HBL-FSIFP-I’ or ‘the Plan’). The medium to long-term rating of ‘A+ (f)’ indicates moderate degree of stability in Net Assets Value. Risk factors may vary with possible changes in the economy. Previous rating action was announced on March 03, 2025.
HBL-FSIFP-I was launched on January 18, 2022, with the objective of generating stable income while preserving capital through investments primarily in high-quality financial sector TFCs and Sukuks, complemented by exposures to bank deposits, equities/MTS, ETFs, and short-term money market instruments.
The assigned rating reflects the Plan’s sound credit quality and disciplined asset allocation. During FY25, allocations remained in line with the offering document, with 39% of assets held in cash and the balance invested in bank and DFI placements, PIBs, and T-Bills. Investments were consistently maintained in instruments rated ‘A’ or above, in accordance with the investment policy. Duration risk was prudently managed. Liquidity remained adequate given the high share of liquid assets, while performance was strong, with the Plan delivering an annualized return above its benchmark.
For further information on this ratings announcement, please contact on 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