Press Release

VIS Reaffirms Fund Stability Rating of ABL Islamic Income Fund

Karachi, January 18, 2022: VIS Credit rating Company (VIS) has reaffirmed the Fund Stability Rating (FSR) of ABL Islamic Income Fund (ABL IIF) at ‘A+ (f)’ ‘(Single A plus (f)). The previous rating action was announced on December 31, 2020.
Launched in 2010 as an open-end Shariah compliant investment scheme, ABL Islamic Income fund aims to provide its investors with high income yields placing its assets in long and short term Shariah Compliant Instruments. Net assets of the fund decreased to Rs. 4.4b (FY20: Rs. 6.1b) by end-FY21.
The fund’s asset allocation plan remained primarily concentrated in cash balances and Corporate Sukuk holdings, meanwhile other investment avenues comprised of Bai Muajjal placements and others. Credit quality exposures remained compliant with VIS criteria for the assigned rating. Weighted Average Maturity (WAM) and duration of the fund remained compliant for the period under review. Portfolio contribution held by retail investors depicted a decline while unrelated corporates increased by end-FY21. The fund overperformed its benchmark and underperformed peer average during FY21.
For further information on this rating announcement, please contact Syed Fahim Haider at 042-35723411-13 (Ext: 8006) or the undersigned at021-35311861-70 (Ext: 306) or email at

Faryal Ahmad Faheem
Deputy CEO

Applicable Rating Criteria: Fund Stability Ratings (December 2020)

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