Lahore, March 05, 2013 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has upgraded the asset manager rating of Habib Asset Management Limited to ‘AM3′ (AM Three) [Previous Rating: “AM3-” with Positive Outlook]. The rating denotes high investment management industry standards and benchmarks the rating reflects the company’s experienced management, adequately structured investment process, and improving operating platform.
The rating incorporates the company’s enhanced focus towards strengthening the investment management framework alongwith expansion in fund slate. The company registered decent growth in AUMs translating into enhanced system share, despite competitive environment. However, the investor concentration in AUMs remains high, with limited contribution of the retail segment. The association of HAML with a leading commercial bank – Bank AL Habib Limited lends support to the rating though the related benefits have been limited.
The rating is dependent on the company’s ability to strengthen its market positioning, wherein channelization of group synergies would help; consistent improvement in the operating platform in line with expanding size and intensifying competition remains important. At the same time, competitive performance of funds remains 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