FIGF: JCR-VIS assigns A+ fund stability rating to Faysal Income & Growth Fund
Dated: April 4, 2006: JCR-VIS also assigned a fund stability rating of “A+” Faysal Income & Growth Fund (FIGF). FIGF has an asset allocation model of investment that includes minimum 90% in fixed investment and up to 10% maximum exposure in equity holdings. The fund stability rating is based on the investment policy of FIGF by way of which the fund will be largely invested in government paper and thus would be able to maintain its strong portfolio credit quality. The interest rate risk is also minimized as the fund is currently invested in short-term instruments. The fund was launched on October 10th, 2005 and has achieved an annualized yield of 12.48% as of April 3rd, 2006. Currently the fund size is over Rs. 1.1 billion.