PACRA Upgrades JS Investments Limited’s Asset Manager Rating Amid Strong Performance and Technological Advancements

Karachi: PACRA has upgraded the asset manager rating of JS Investments Limited from AM2+ to AM2++, reflecting the company’s experienced team, governance framework, and disciplined investment process. According to The Pakistan Credit Rating Agency Limited, the upgrade indicates JS Investments Limited’s focus on technology and revenue stability, driven by a diversified product mix that includes fee income from collective investment schemes, real estate investment trusts, and separately managed accounts.

The company’s investment in digital services, such as customer onboarding and wealth management through the Zindigi App, has resulted in significant inflows via digital channels. Assets under management reached approximately PKR 101 billion by the end of November 2024, representing a 51% growth since December 2023. Despite the strong corporate AUM mix, the company aims to increase retail penetration for competitive advantages.

The rating also considers JS Investments Limited’s association with JS Bank Limited and the potential synergies within the JS Group. The company reported a 100% increase in core revenue for the first nine months of 2024, amounting to PKR 343 million, supported by investment gains and dividend income. The company’s equity stood at PKR 1.9 billion as of September 2024. Future ratings will depend on sustaining fund performance, maintaining credit quality, and enhancing market position and investor diversity.

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