Karachi, January 07, 2021 (PPI-OT): VIS Credit Rating Company Limited (VIS) has upgraded the Fund Stability Rating (FSR) of Al-Ameen Islamic Aggressive Income Fund (AIAIF) to ‘A+(f)’ (Single A plus (f)) from (A (f)) (Single A (f)). The previous rating action was announced on October 15, 2020.
The rating action incorporates updated ‘FUND STBILITY RATING methodology https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/FundstabilityRating.pdf which can be found on our website for reference’. Actual asset allocation has remained in line with the assigned rating threshold with more 86% of the fund’s exposure being allocated in ‘AA-’ and above rated instruments. The fund’s actual asset allocation plan complied with the stipulated limits of the Offering Document (OD). Actual WAM and duration of the fund has also remained in line with the threshold.
Launched in October 2007, Al-Ameen Islamic Aggressive Income Fund is an open-end Shariah Complaint Aggressive Income Fund designed to provide its investors with long-term risk adjusted returns through investments in medium to long-term Shariah Compliant income instruments and short-term money market securities in Pakistan.
For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
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