Press Release
VIS Assigns Initial Fund Stability Rating to Alfalah MTS Fund
Karachi, December 8, 2025: VIS Credit Rating Company Limited (VIS) has assigned the initial Fund Stability Rating (FSR) of ‘AA- (f)’ (Double A Minus (f)) to Alfalah MTS Fund (‘AMTSF’ or ‘the Fund’). The medium to long-term rating of ‘AA- (f)’ denotes high degree of stability in Net Assets Value. Risk is modest but may vary slightly from time to time because of changing economic conditions.
AMTSF was launched April 08, 2016. The objective of Alfalah MTS Fund (AMTSF) is to provide competitive returns primarily through investment to MTS market.
Assigned rating incorporates the Fund’s asset allocation strategy, characterized by allocations to cash, Margin Trading System (MTS), and Short-Term Sukuk. Nonetheless, deviations from the parameters outlined in the offering document have been observed in certain months, particularly with respect to the maximum permissible allocation to MTS and the minimum mandated allocation to cash. Rating also takes into account the Fund’s credit quality, with investments largely held in AA- rated assets, while the remaining portion is deployed in MTS. Going forward, maintaining credit quality at levels observed in Aug’25 will remain important for the rating. The Fund’s liquidity profile is considered adequate, and sustaining liquidity at levels recorded in Aug’25 will be imperative for the assigned rating. The investor base consists largely of retail investors, with concentration risk on the higher side. In terms of performance, the Fund ranks among the top performers in its peer group.
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