Press Release

VIS Reaffirms Fund Stability Rating for ABL Islamic Cash Fund

Karachi, December 31, 2020: VIS Credit Rating Company Limited (VIS) has reaffirmed Fund Stability Rating (FSR) of ‘AA (f)’ (Double A(f)) to ABL Islamic Cash Fund (ABL ICF) Previous rating action was announced on September 17, 2020.

Launched in February’ 2020, ABL ICF operates as a Shariah compliant money market fund. During the first year of operation the net assets of the fund manifested an increase, net assets were reported at Rs. 1.5b at end-June’20. In order to cater to its mandate, the fund maintains low exposure to risk. Consequently, pre-defined limits have been stated in order to limit deployment in different asset classes. The actual credit quality of exposures remained in line with VIS criteria and the revised IPS. There was also no breach in duration of the fund during the review period.

For further information on this rating announcement, please contact Ms. Asfia Aziz or the undersigned (Ext. 301) at 021-35311861-70 or email at info@vis.com.pk.



Faheem Ahmad
President & CEO

Applicable Rating Criteria: Fund Stability Ratings (December 2020)
https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/FundstabilityRating.pdf

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