VIS confirms fund stability rating of Faysal Islamic Savings Growth Fund

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.