Press Release

VIS Reaffirms Fund Stability Rating of ABL Islamic Income Fund
 

Karachi, January 18, 2022: VIS Credit rating Company (VIS) has reaffirmed the Fund Stability Rating (FSR) of ABL Islamic Income Fund (ABL IIF) at ‘A+ (f)’ ‘(Single A plus (f)). The previous rating action was announced on December 31, 2020.
Launched in 2010 as an open-end Shariah compliant investment scheme, ABL Islamic Income fund aims to provide its investors with high income yields placing its assets in long and short term Shariah Compliant Instruments. Net assets of the fund decreased to Rs. 4.4b (FY20: Rs. 6.1b) by end-FY21.
The fund’s asset allocation plan remained primarily concentrated in cash balances and Corporate Sukuk holdings, meanwhile other investment avenues comprised of Bai Muajjal placements and others. Credit quality exposures remained compliant with VIS criteria for the assigned rating. Weighted Average Maturity (WAM) and duration of the fund remained compliant for the period under review. Portfolio contribution held by retail investors depicted a decline while unrelated corporates increased by end-FY21. The fund overperformed its benchmark and underperformed peer average during FY21.
For further information on this rating announcement, please contact Syed Fahim Haider at 042-35723411-13 (Ext: 8006) or the undersigned at021-35311861-70 (Ext: 306) or email at info@vis.com.pk







Faryal Ahmad Faheem
Deputy CEO


Applicable Rating Criteria: Fund Stability Ratings (December 2020)
https://docs.vis.com.pk/docs/FundstabilityRating.pdf

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Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.VIS , the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report.VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2022 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .

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