Press Release

JCR-VIS Withdraws Management Quality Rating and Fund Stability Ratings of AKD Investment Management Limited
 

Karachi, September 02, 2016: JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn the following ratings with immediate effect on account of non-renewal of rating contract:

· Management Quality Rating of ‘AM3+’ (AM-Three Plus) assigned to AKD Investment Management Limited
· Fund Stability Rating of ‘AA+(f)’ (Double A Plus) assigned to AKD Cash Fund
· Fund Stability Rating of ‘BBB(f)’ (Triple B) assigned to AKD Aggressive Income Fund

The previous rating actions were announced on May 4, 2016 for Management Quality Rating and December 31, 2015 for Fund Stability Ratings.

For further information on this rating announcement, please contact the undersigned (Ext: 241) or Mr. Javed Callea (Ext: 234) at 92-21-35311861 or fax to 92-21-35311873.



Mohammed Khalid Ali
Advisor


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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