Press Release

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

Karachi, April 20, 2015: 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 December 2014.

Following are the Star Rankings for the 1-year period ended December 2014; also presented are the international ETFs used in creating peer funds.

Lakson Asset Allocation Developed Markets Fund: MFR 1-Star (Previous – June 30, 2014: MFR 1-Star)
Peer Group of International ETFs: iShares MSCI World Index Fund, HSBC MSCI World UCITS ETF, Lyxor ETF MSCI World, Amundi ETF MSCI World UCITS

Lakson Asset Allocation Emerging Markets Fund: MFR 1-Star (Previous – June 30, 2014: MFR 1-Star)
Peer Group of International ETFs: iShares MSCI Emerging Markets ETF, Lyxor MSCI Emerging Market ETF, Amundi MSCI Emerging Markets ETF

Lakson Asset Allocation Global Commodities Fund: MFR 1-Star (Previous – June 30, 2014: MFR 1-Star)
Peer Group of International ETFs: DB Commodity Long ETN, DB Commodity Index Tracking Fund, GSCI Commodity-Indexed Trust Fund, S&P GSCI Total Return Index ETN

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 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.

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: 506) at 35311861-72 or fax to 35311873.

Javed Callea

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 2015 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