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

Karachi, January 16, 2019 (PPI-OT): 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 more information, contact:
Director Compliance and Rating Analytics,
JCR-VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: http://jcrvis.com.pk/