JCR-VIS withdraws management quality rating and fund stability ratings of AKD Investment Management Limited

Karachi, September 02, 2016 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn the following ratings with immediate effect on account of non-renewal of rating contract:

Management Quality Rating of ‘AM3+’ (AM-Three Plus) assigned to AKD Investment Management Limited

Fund Stability Rating of ‘AA+(f)’ (Double A Plus) assigned to AKD Cash Fund

Fund Stability Rating of ‘BBB(f)’ (Triple B) assigned to AKD Aggressive Income Fund

The previous rating actions were announced on May 4, 2016 for Management Quality Rating and December 31, 2015 for Fund Stability Ratings.

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