Press Release
VIS Assigns Initial Fund Stability Rating to Alfalah Stable Return Fund Plan-XX
Karachi, December 31, 2025: VIS Credit Rating Company Limited (VIS) has assigned the initial Fund Stability Rating (FSR) of ‘AA (f)’ (Double A (f)) to Alfalah Stable Return Fund Plan-XX (‘ASRFP-XX’ 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.
ASRFP-XX was launched in May 16, 2025, with Assets Under Management (AUM) increasing to PKR 5,410m by September 2025. The primary objective of the Fund is to generate returns on investment as per the respective Investment Plan by investing in avenues such as government securities, cash in bank account, money market placements, deposits, certificate of deposits, certificate of musharakahs.
Assigned rating reflects the Plan’s asset allocation strategy, which adheres to the parameters outlined in the offering document, with investments predominantly in Pakistan Investment Bonds (PIBs). Rating also takes into account the Plan’s credit quality, with exposures maintained above the minimum rating threshold of AA, given that investments are primarily in Government Securities.
The Plan’s liquidity profile is considered sound, supported by placements in PIBs. The investor base comprises only eight investors, indicating high concentration risk. However, the investment in liquid assets mitigates redemption risk. In terms of performance, the Plan is positioned in the fourth quartile relative to peers.
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