Lahore, March 05, 2013 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has upgraded the asset manager rating of PRIMUS Investment Management Limited to ‘AM3′ (AM Three) [Previous Rating: AM3-]. The rating denotes high investment management industry standards and benchmarks The rating reflects the company’s adequately experienced management team, structured investment process, and affiliation with a development finance institution – Pak Brunei Investment Company (PBIC).
The rating incorporates PIML’s concerted efforts towards strengthening requisite infrastructure for fund management; this is also reflected in competitive return of its funds. PIML achieved significant growth in assets under management. However, the investor concentration in AUMs remains high, which is expected to taper off gradually. Meanwhile, the efficacy of PIML’s systems and processes would be fully tested in the course of time.
The rating is dependent upon the company’s ability to effectively execute its business strategy, wherein diversity in the fund slate alongwith competitive fund performance would be important. At the same time, PIML’s ability to retain and augment its human resources inline with expanding fund slate would be crucial.
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