Pakistan Credit Rating Agency maintains Asset Manager Rating of National Bank of Pakistan Fullerton Asset Management Limited

Lahore, March 07, 2013 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of NBP Fullerton Asset Management Limited at ‘AM2′ (AM Two). The rating reflects the company’s very strong capacity to manage risks inherent in the asset management business and the asset manager meets very high investment management industry standards and benchmarks.

The rating reflects the company’s proficient and experienced management team, sound quality of systems and processes, and diverse product slate. It recognizes the well structured investment process resulting in good performance of NAFA’s funds.

The company has experienced strong growth in assets under management. Notably, it is expected to achieve desirable extent of diversity in AUMs, supported by a consistent inflow of funds from retail segment. Moreover, the rating recognizes the management’s concerted efforts at strengthening an independent and effective investment risk management function. The rating incorporates NAFA’s association with a well-known international fund management group and the country’s largest commercial bank.

The rating is dependent on the company’s ability to successfully capitalize on its parent bank’s branch network for achieving growth in assets under management, particularly sustaining – indeed improving – the trend in fund mobilization from retail segment. Meanwhile, evolution of the investment risk management function making significant contribution towards enrichment of risk culture at NAFA remain crucial.

For more information, contact:
Hammad Rashid
Analyst
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
Email: hammad.rashid@pacra.com
Web: www.pacra.com

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