VIS confirms fund stability rating of Faysal Islamic Savings Growth Fund

Updated 13 May, 2019

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.

Copyright APP (Associated Press of Pakistan), 2019
 

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