Press Release

Fund Stability Rating of Al-Ameen Islamic Aggressive Income Fund

Karachi, January 06, 2016: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Fund Stability Rating (FSR) of Al-Ameen Islamic Aggressive Income Fund (AIAIF) (previously Al Ameen Islamic Income Fund) at ‘BBB+(f)’ (Triple B Plus (f)). The previous rating action was announced on August 12, 2014.

In line with its categorization, the fund’s ability to assume risk is on the higher side, with no minimum threshold defined for credit risk in addition to which there is no restriction on time to maturity of a single security. Actual asset allocation of the fund remained in compliance with the stipulated limits, with sizeable exposure in bank deposits and Sukuk on average basis.

Investment policy has capped Weighted Average Maturity (WAM) of the fund at 5 years. WAM has remained in line with the specific limit in the outgoing year. Interest rate risk is considered manageable on account of lower duration maintained by the fund. Investor concentration in the fund has trended downwards on a timeline basis. Ability of the fund to meet redemptions in a timely manner is adequate given the asset mix of the fund.

For further information on this rating announcement, please contact the undersigned (Ext: 516) or Mr. Javed Callea (Ext: 501) at 35311861-70 or fax to 35311872.



Jamal Abbas Zaidi
Advisor


Applicable Rating Criteria: Fund Stability Ratings (February 2012)

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