KARACHI: VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating of Faysal Islamic Savings Growth Fund at single A Plus (f).
The rating of A+ denotes moderate degree of stability. Moreover, risk factors may vary with possible changes in the economy. Previous rating action was announced on November 21, 2017, said a press release on Monday.
The rating takes to account the stable risk profile of the fund in accordance with its Investment Policy Statement. As per policy, all issue/issuer exposures are subject to minimum rating of A while weighted average maturity and duration of the fund are capped at four years and 180 days respectively.
During the period under review, the fund has largely maintained exposure in A+ (96%) and above rated instruments. Based on the IPS and actual asset allocation, the rating will be constrained by any change in credit quality of the fund’s assets, going forward.