JCR-VIS Assigns Star Rankings to Open-End Islamic Asset Allocation Funds

Karachi, October 13, 2016 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has assessed the fund performance rankings of Open-end Islamic Asset Allocation Funds for the one, three and five year periods ended June 30, 2016. 3-year and 5-year rankings are based on weighted average performance over the performance horizon. Following are the star rankings for end-June 2016:

CATEGORY: OPEN-END ISLAMIC ASSET ALLOCATION FUNDS

PERFORMANCE PERIOD: 1, 3 and 5 YEARS

RANKINGS:

Askari Islamic Asset Allocation Fund

1-year ranking: MFR 1-Star (Previous – December 31, 2015: MFR 1-Star)

3-year wt. avg. ranking: MFR 1-Star (Previous – December 31, 2015: MFR 1-Star)

5-year wt. avg. ranking: MFR 1-Star (Previous – December 31, 2015: MFR 1-Star)

Lakson Islamic Tactical Fund (Formerly Lakson Asset Allocation Emerging Markets Fund)

1-year ranking: MFR 3-Star (Previous – December 31, 2014: MFR 1-Star)

3-year wt. avg. ranking: MFR 2-Star (Previous – N/A)

The above peer group also includes the following funds:

Al Ameen Islamic Asset Allocation Fund, NAFA Islamic Asset Allocation Fund, Pakistan International Element Islamic Fund, Pak Oman Islamic Asset Allocation Fund.

JCR-VIS star rankings present only comparative performance within a peer group based on historical risk adjusted returns and do not provide assurance of future returns.

For more information, contact:
Ms. Sobia Maqbool
CFA
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: sobia@jcrvis.com.pk