Press Release

JCR-VIS Assigns Star Rankings to International Asset Allocation Funds of Lakson Investments Limited

Karachi, December 26, 2013: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assessed the fund performance rankings of three open-end international asset allocation funds of Lakson Investments Limited for the one year period ended June 2013.

For the purpose of evaluating performance of these funds, JCR-VIS has primarily used its ‘Star Ranking Methodology’. In order to undertake a meaningful analysis, performance has been analyzed relative to pools created by using returns of local money market funds and international ETFs, similar to those in which Lakson’s funds are invested. The funds so created replicate the asset allocation strategy of Lakson’s funds. The hypothetical peer group of international ETFs and local money market funds has been developed on the premise that a portfolio with a similar mix as that of funds being evaluated can be created by the investors. Treatment of fees and sales load has been consistent across the funds.

Following are the Star Rankings for the 1-year period ended June 2013; also presented are the international ETFs used in creating peer funds.

Lakson Asset Allocation Developed Markets Fund - MFR 3-Star
International ETFs used in creating peer group
iShares MSCI World Index Fund
Lyxor ETF MSCI World

Lakson Asset Allocation Emerging Markets Fund - MFR 1-Star
International ETFs used in creating peer group
iShares MSCI Emerging Markets ETF
Lyxor MSCI Emerging Market ETF
Amundi MSCI Emerging Markets ETF

Lakson Asset Allocation Global Commodities Fund - MFR 5-Star
International ETFs used in creating peer group
DB Commodity Long ETN
DB Commodity Index Tracking Fund
GSCI Commodity-Indexed Trust Fund
S&P GSCI Total Return Index ETN

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 rating announcement, please contact Ms. Sobia Maqbool, CFA (Ext: 604) or Mr. M. Bilal Aftab (Ext: 406) at 35311861-72 or fax to 35311873.

Jamal Abbas Zaidi
Deputy CEO

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 2013 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