Lahore, May 29, 2018 (PPI-OT): The rating reflects the company’s adequate positioning in the industry, improved investment process and new but experienced management team. With a limited fund slate, the company managed decent growth in the AUMs in CY17. This has resulted in a rise in its system share in the mutual fund segment, though it is still less than 1%. The company has rebranded itself and is positioning itself in Shariah compliant genre of mutual fund industry. It would be amongst few exclusive Shariah compliant asset manager. The team and processes are in place.
Now the focus is on completing basic fund slate by adding an Islamic equity fund, this would be followed by marketing/distribution push. The management is eyeing PKR2 bln AUMs by end of FY19. In CY17, the performance of the funds was comparable to most peers. The management intends to materialise its strategic plans by enhancing its position in industry coupled with major focus on high net worth and corporate clientele.
The rating is dependent on the successful execution of company’s strategy resulting in enhancement in the company’s competitive position in the industry. Strengthening of the human resource with a focused skill set would remain important for the enhancement of the investment management platform. Relative performance of funds remain critical.
For more information, contact:
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