Pakistan Credit Rating Agency Limited updates on Asset Manager Rating of NAFA

Lahore, August 04, 2016 (PPI-OT):NBP Fullerton Asset Management Limited (NAFA) has an AMC rating of “AM2++” (AM2 Double Plus). The rating was placed on rating watch on 04, July16, following the unfortunate incident of fire at its head office situated in Karachi. The fire affected the company’s operations, causing some delay in announcement of NAVs. The management with concerted efforts has now streamlined the operations at one of the sponsoring bank’s site.

The NAVs are also being updated on daily basis now. The company’s AUMs, have seen sustained growth in the interim period. At the same time, efforts are underway to renovate the Head Office; though this would take some time to complete. Hence, PACRA has removed the NAFA’s rating from Rating Watch.

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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