Press Release

JCR-VIS Harmonizes Management Quality Rating Scale

Karachi, May 4, 2016: JCR-VIS Credit Rating Company Limited (JCR-VIS) has harmonized its notations for the Management Quality Rating (MQR) scale. Revised ratings for all Asset Management Quality clients are as below.

Company Name NEW SCALE Outlook OLD SCALE
ABL Asset Management Company Ltd AM2+ Stable AM2
AKD Investment Management Ltd AM3+ Stable AM3
Al-Meezan Investment Management Ltd. AM2++ Stable AM2+
Arif Habib Dolmen REIT Management Limited AM2 (RMC) Stable AM2- (RMC)
Askari Investment Management Limited AM3++ Stable AM3+
Faysal Asset Management Ltd AM3++ Stable AM3+
HBL Asset Management Ltd. AM2 Stable AM2-
JS Investments Limited AM2 Stable AM2-
Magnus Investment Advisors Limited AM2 (IA) Stable AM2- (IA)
National Asset Management Company Ltd. AM4 Stable AM4-
Pak Oman Asset Management Co Ltd AM4++ Positive AM4+
PICIC Asset Management Company Ltd. AM2 RW AM2-
Primus Investment Management Limited AM3+ Positive AM3
UBL Fund Managers Ltd. AM2++ Stable AM2+

*RW: Rating Watch

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or the undersigned (Ext: 508) at 021-35311861-72.

Mohammed Khalid Ali

Applicable Rating Criteria: Mutual Fund Rating (March 2016)

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 2016 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited