Ratings
Name Date Rating Type Long Term Short Term Outlook/
Rating Watch		 Action Sector
AKD Aggressive Income Fund
31-12-2015 Fund Stability BBB(f) --- --- Reaffirmed Mutual Funds - Open End
AKD Cash Fund
31-12-2015 Fund Stability AA+(f) --- --- Reaffirmed Miscellaneous Non-manufacturing
Al Ameen Islamic Aggressive Income Fund
31-12-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
Al Ameen Islamic Cash Fund
31-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
Al Ameen Islamic Sovereign Fund
31-12-2025 Fund Stability AA(f) --- --- Reaffirmed Mutual Funds - Open End
AL Habib Cash Fund (formerly First Habib Cash Fund)
30-12-2025 Fund Stability AAA (f) --- --- Reaffirmed Mutual Funds - Open End
AL Habib Money Market Fund
01-01-2026 Fund Stability AAA (f) --- --- Reaffirmed Mutual Funds - Open End
Alfalah Cash Fund - II (Formerly: Faysal Cash Fund)
20-01-2026 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
Alfalah Financial Sector Opportunity Fund
31-12-2025 Fund Stability A(f) --- --- Initial Mutual Funds - Open End
Alfalah Government Securities Fund - II (Formerly: Faysal Government Securities Fund)
20-01-2026 Fund Stability AA(f) --- --- Reaffirmed Mutual Funds - Open End
Alfalah Government Securities Fund Plan-I (Under Alfalah Government Securities Fund)
31-12-2025 Fund Stability AA(f) --- --- Initial Mutual Funds - Open End
Alfalah Government Securities Fund Plan-II (Under Alfalah Government Securities Fund)
31-12-2025 Fund Stability AA(f) --- --- Initial Mutual Funds - Open End
Alfalah Income & Growth Fund
20-01-2026 Fund Stability A(f) --- --- Initial Mutual Funds - Open End
Alfalah Money Market Fund - II
08-12-2025 Fund Stability AA+(f) --- --- Initial Mutual Funds - Open End
Alfalah MTS Fund
08-12-2025 Fund Stability AA- (f) --- --- Initial Mutual Funds - Open End
Alfalah Savings Growth Fund
18-12-2025 Fund Stability A+(f) --- --- Initial Mutual Funds - Open End
Alfalah Stable Return Fund Plan-XX (Under Alfalah Stable Return Fund)
31-12-2025 Fund Stability AA(f) --- --- Initial Mutual Funds - Open End
Alfalah Stable Return Fund Plan-XXI (Under Alfalah Stable Return Fund)
31-12-2025 Fund Stability AA(f) --- --- Initial Mutual Funds - Open End
Askari Cash Fund
26-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
Askari Sovereign Yield Enhancer
02-01-2026 Fund Stability AA- (f) --- --- Reaffirmed Mutual Funds - Open End
Faysal Halal Amdani Fund II
25-08-2025 Fund Stability AA- (f) --- --- Initial Mutual Funds - Open End
Faysal Islamic Cash Fund
31-12-2025 Fund Stability AA(f) --- --- Reaffirmed Mutual Funds - Open End
Faysal Islamic Financial Growth Plan II
25-08-2025 Fund Stability AA- (f) --- --- Initial Mutual Funds - Open End
Faysal Islamic Financial Growth Plan-I (Under Faysal Islamic Financial Growth Fund)
03-09-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
Faysal Islamic Savings Growth Fund
31-12-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
Faysal Islamic Sovereign Fund Plan-I (Under Faysal Islamic Sovereign Fund)
05-09-2025 Fund Stability AA(f) --- --- Reaffirmed Mutual Funds - Open End
Faysal Islamic Sovereign Fund Plan-II (Under Faysal Islamic Sovereign Fund)
03-09-2025 Fund Stability AA(f) --- --- Reaffirmed Mutual Funds - Open End
HBL Cash Fund
29-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
HBL Financial Sector Income Fund Plan-I (Under HBL Financial Sector Income Fund)
29-12-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
HBL Financial Sector Income Fund Plan-II (Under HBL Financial Sector Income Fund)
29-12-2025 Fund Stability AA- (f) --- --- Reaffirmed Mutual Funds - Open End
HBL Government Securities Fund
29-12-2025 Fund Stability AA- (f) --- --- Reaffirmed Mutual Funds - Open End
HBL Income Fund
29-12-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
HBL Islamic Income Fund
29-12-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
HBL Islamic Money Market Fund
29-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
HBL Money Market Fund
29-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
HBL Total Treasure Exchange Traded Fund
29-12-2025 Fund Stability AA- (f) --- --- Reaffirmed Mutual Funds - Open End
Meezan Cash Fund
19-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
Meezan Daily Income Plan-I
16-12-2025 Fund Stability AA- (f) --- --- Reaffirmed Mutual Funds - Open End
Meezan Islamic Income Fund
16-12-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
Meezan Rozana Amdani Fund
16-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
Meezan Sovereign Fund
16-12-2025 Fund Stability AA(f) --- --- Reaffirmed Mutual Funds - Open End
NIT Islamic Money Market Fund
14-01-2026 Fund Stability AAA (f) --- --- Reaffirmed Mutual Funds - Open End
NIT Social Impact Fund
13-01-2026 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
UBL Government Securities Fund
31-12-2025 Fund Stability AA(f) --- --- Reaffirmed Mutual Funds - Open End
UBL Growth & Income Fund
31-12-2025 Fund Stability A+(f) --- --- Reaffirmed Mutual Funds - Open End
UBL Income Opportunity Fund
31-12-2025 Fund Stability AA- (f) --- --- Reaffirmed Mutual Funds - Open End
UBL Liquidity Fund
17-12-2025 Fund Stability AA+(f) --- --- Initial ---
UBL Liquidity Plus Fund
31-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End
UBL Money Market Fund
31-12-2025 Fund Stability AA+(f) --- --- Reaffirmed Mutual Funds - Open End