Press Release

JCR-VIS Assigns Star Rankings to Open-End Balanced

Karachi, Feburaru 4, 2016: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assessed the fund performance rankings of open-end balanced funds for the one, three and five year periods ended December 31, 2015. 3-year and 5-year rankings are based on weighted average performance over the performance horizon. Following are the star rankings for December-end 2015:


HBL Multi Asset Fund
1-year ranking: MFR 2-Star (Previous - June 30, 2015: MFR 1-Star)
3-year ranking: MFR 1-Star (Previous - June 30, 2015: MFR 1-Star)
5-year ranking: MFR 1-Star (Previous - June 30, 2015: MFR 2-Star)

Namco Balanced Fund
1-year ranking: MFR 5-Star (Previous - June 30, 2015: MFR 5-Star)

The above peer group also includes the following funds:
Faysal Balanced Growth Fund, NAFA Multi Asset Fund, Pakistan Capital Market Fund, Primus Strategic Multi Asset Fund and Unit Trust of Pakistan.

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. Bilal Aftab (Ext: 408) at 35311861-71 or fax to 35311872-3.

Jamal Abbas Zaidi

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