Press Release
VIS Assigns Initial Fund Stability Rating to Faysal Islamic Mehdood Muddat Plan-XI
Karachi, October 01, 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 Mehdood Muddat Plan-XI (‘FIMMP-XI’ or ‘the 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.
Introduced on September 11, 2025, with a tenor of 3 months, the Plan is still in its infancy and has already attracted Rs. 10.4 billion in AUM as of September 18, 2025. With investments mandated in Shariah-compliant government securities, cash, and deposits with Islamic banks, the Plan reflects strong credit quality by restricting exposures to AA and above. While market risk is expected to remain limited given its short duration and liquid profile, the early stage of the Plan underscores the importance of portfolio buildup. Plans performance will be tracked against benchmark returns and peer funds as it develops further.
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