Press Release

JCR-VIS Withdraws Rating of KASB Funds Limited

Karachi, November 1, 2016: JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn management quality rating of ‘AM3’ (AM-Three) assigned to KASB Funds Limited with immediate effect on account of company’s decision to surrender its asset management license. Moreover, Fund Stability Ratings of KASB Cash Fund (AA(f)), KASB Income Opportunity Fund (BB+(f)) and KASB Islamic Income Opportunity Fund (BBB-(f)) are also being withdrawn. Previous rating actions were announced on October 21, 2015.

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

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 2016 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