Press Release

JCR-VIS reaffirms Fund Stability Rating of ABL Islamic Income Fund

Karachi, January 16, 2019: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Islamic Income Fund (ABL IIF) at ‘A(f)’ (Single A (f)). The previous rating action was announced on January 16th, 2018.

The rating incorporates policy guidelines and actual investment allocation portfolio. Net assets of the fund increased to Rs. 5.01b (FY17: Rs. 3.9b) at end-FY18. On average basis, more than half of net assets are held as cash and bank balances, thus supporting liquidity. Credit quality of exposures has remained in line with JCR-VIS’s criteria for the assigned rating with investments comprising exposures in at least ‘A’ rated investment avenues. Duration of the fund has declined on a timeline basis indicating lower exposure to market risk. Actual risk profile of the fund has been maintained in line with the operational investment policy.

For further information on this rating announcement, please contact the undersigned (Ext: 207) or Javed Callea (Ext: 201) at 021-35311861-70 or fax to 021-35311873.



Jamal Abbas Zaidi
Advisor

Applicable Rating Criteria: Fund Stability Ratings (September 2018)
http://jcrvis.com.pk/docs/Fund%20stability%20Rating092018.pdf

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