Press Release

JCR-VIS Assigns Star Rankings to Open-End Stock Funds

Karachi, August 24, 2015: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assessed the fund performance rankings of open-end stock funds for the one, three and five year periods ended June 30, 2015. This peer group includes only those funds having fund size of less than Rupees one billion as of June 30, 2015. 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. Following are the star rankings for period ended June 30, 2015:


Crosby Dragon Fund
1-year ranking: MFR 4-Star (Previous – December 31, 2014: MFR 2-Star)
3-year ranking: MFR 4-Star (Previous – December 31, 2014: MFR 2-Star)
5-year ranking: MFR 5-Star (Previous – December 31, 2014: MFR 3-Star)

The above peer group also includes the following funds:

Alfalah GHP Alpha Fund, Askari Equity Fund, First Habib Stock Fund, JS Large Cap Fund, JS Value Fund, PICIC Stock Fund and MCB Pakistan Islamic Stock Fund (Formerly : Pakistan Strategic Allocation Fund).
Peer group does not included JS Value Fund in the 3-year and 5-year weighted average ranking.

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: 408) or Ms. Sobia Maqbool, CFA (Ext: 604) at 35311861-71 or fax to 35311872-3.

Jamal Abbas Zaidi
Deputy CEO

Applicable Criteria: Methodology Update: Explaining The Stars (December 2013)

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

JCR-VIS Credit Rating Company Limited