Press Release

JCR-VIS Assigns Star Rankings of First Habib Stock Fund& Askari Equity Fund in the Open-End Stock Funds Category

Karachi, May 08, 2017: JCR-VIS Credit Rating Company Limited (JCR-VIS) has updated the fund performance rankings of open-end stock funds for the one, three and five year periods ended December 31st, 2016. This peer group includes only those funds having fund size of less than Rupees one billion as ofDecember 31st, 2016. 3-year and 5-year rankings are based on weighted average performance over the performance horizon and only include those funds which have completed the full term. Previously a press release for this peer group was issued on April 18th, 2017. Following are the star rankings for period end December 31st, 2016:


First Habib Stock Fund
1-year ranking: MFR 3-Star(Previous – June 30th, 2016: MFR 2-Star)
3-year ranking: MFR 4-Star(Previous – June 30th, 2016: MFR 3-Star)
5-year ranking: MFR 1-Star (Previous – June 30th, 2016: MFR 1-Star)

Askari Equity Fund
1-year ranking: MFR 1-Star (Previous – June 30th, 2016: MFR 1-Star)
3-year ranking: MFR 1-Star (Previous – June 30th, 2016: MFR 1-Star)

The above peer group also includes the following funds:

First Capital Mutual Fund, JS Large Capital Fund, PICIC Energy Fund, PICIC Stock Fund, PIML Value Equity Fund .

JCR-VIS star rankings present only comparative performance within a peer group based on historical risk adjusted returns and do not provide assurance of future returns.

For further information on this ranking announcement, please contact Mr. M. Bilal Aftab (Ext: 106) at 35311861-66 or fax to 35311872-3.

Javed Aslam Callea
Advisor Applicable Criteria: Methodology Update: Explaining The Stars (December 2013)

Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-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. JCR-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. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-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 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited