Press Release
VIS Assigns Initial Fund Stability Rating to Faysal Islamic Financial Growth Plan-II (Under Faysal Islamic Financial Growth Fund)
Karachi, August 25, 2025: VIS Credit Rating Company Limited (VIS) has assigned the initial Fund Stability Rating (FSR) of ‘AA- (f)’ (Double A Minus (f)) to Faysal Islamic Financial Growth Plan-II (‘FIFGP-II’ or ‘Plan’). 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.
FIFGFP-II was launched in August 2024 and has witnessed notable growth in its AUM base within the first year of operations. The assigned rating reflects the Plan’s asset allocation strategy, which has remained aligned with the parameters outlined in the offering document. The portfolio has largely been maintained in liquid avenues such as cash and placements with banks, complemented by investments in government securities and high-quality rated instruments.
The rating also factors in the prudent credit risk management demonstrated over the period, with the portfolio tilted towards government securities and strong-rated exposures. Maintaining this credit quality will remain important for rating sustenance. The Plan has also adhered to its Investment Policy Statement, keeping maturity within prescribed limits. Liquidity is viewed as sound, underpinned by a sizable allocation to liquid assets. The investor base reflects a healthy mix of retail participation, while concentration levels are considered moderate.
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