Management Quality Rating of ‘AM3-‘ assigned to Pak-Oman Asset Management Company Limited

Karachi, December 31, 2014 (PPI-OT): The Management Quality Rating of ‘AM3-’ (AM-Three Minus) assigned to Pak-Oman Asset Management Company Limited (POAMCL), by JCR-VIS Credit Rating Company Limited (JCR-VIS), continues to be placed under ‘Rating Watch Developing’ status in view of the on-going merger process of the company with KASB Funds Limited.

Progress in this regard will be actively tracked by JCR-VIS. The previous rating action was announced on 15 July, 2013. POAMCL had total assets under management of Rs. 1.6billion at end-September’2014. The performance of funds does not compare favorably to their respective peer groups.

For more information, contact:
Ms. Sobia Maqbool
CFA
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: sobia@jcrvis.com.pk