Lahore, March 19, 2013 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of Atlas Asset Management Limited (AAML) at “AM2-” (AM Two Minus). The rating reflects company’s very strong capacity to manage the risks inherent in asset management business and the asset manager meets very high investment management industry standards and benchmarks.
The rating reflects the company’s qualified management team, structured investment process, and sound quality of system and processes. The rating incorporates AAML’s enhanced focus towards strengthening its investment management platform, in turn, decision making process. Most of the funds managed by AAML have shown above average performance in comparison to peers.
AAML has a diversified fund slate. However, it has a high contribution from the money market fund, though lower than industry average, and high unit holder concentration. The association of AAML with an acknowledged business group – Atlas Group lends support to the rating though the related benefits have been limited.
The rating is dependent upon the company’s ability to effectively execute its business plan encompassing expansion in product slate while simultaneously diluting the AUM concentration and expanding the retail investor base. Moreover, strengthening the investment research function alongwith consistency in demonstrated funds’ performance would remain critical.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425