Pakistan Credit Rating Agency maintains asset manager rating of Askari investment management limited

Lahore, May 16, 2013 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of Askari Investment Management Limited (AIM) at “AM3+” (AM Three Plus). The rating has a ‘Positive Outlook’. The rating denotes the company’s strong capacity to manage the risks inherent in asset management and the asset manager meets high investment management industry standards and benchmarks.

The rating reflects AIML’s strengthened investment management framework along with expansion in fund slate. The company’s association with a leading commercial bank – Askari Bank Limited (AKBL), offers synergic benefits, though the integration is yet to reach a level of significant contribution.

The rating incorporates the company’s experienced management team, though it has lately been strengthened. There is an enhanced focus towards expanding the retail base, for which concerted efforts are being made. However, AUMs are largely concentrated in the fixed income category along with high unit holding concentration.

The ‘Positive Outlook’ captures the company’s ability to effectively execute its business plan to strengthen the retail base, while reducing investor concentration. Meanwhile, sustaining a strong and stable fund performance would be important. At the same time, strengthening of human capital ensuring sustainability of the organizational structure for the company’s strategic direction would be crucial.

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