Lahore, December 28, 2020 (PPI-OT): The rating incorporates Atlas Asset Management Limited’s (or the “Company”) stable market share, experience management team, structured investment decision process and adequate risk management framework. Strong ownership and good governance profile also provide support to the rating. The Company has an adequate product slate and is focusing on launching fund in shariah compliant category. Since Dec’19, the overall AUMs of the Company increased by ~30% and stood at ~PKR 40bln at end Sep’20 which is in line with the industry growth for the same period. However, the market share of the Company remained stable at 4.5%.
The Company has a modest standing in the retail avenue and intends to strengthen its sales team to provide impetus in augmenting retail penetration. To augment its revenue stream, the Company is also offering specialized investment products which includes Separately Managed Accounts with adequate AUMs as compared to peers. The overall fund’s performance remained above par with majority funds meeting or exceeding industry average and benchmark. The Company remained profitable during FY20 and has an adequate equity base at end Sep’20. The rating incorporates the Company’s association with Atlas Group, a leading business conglomerates in Pakistan having investments in multiple sectors.
The rating is dependent on the Company’s ability to strengthen its market position in terms of AUMs, sustaining superior fund performance and upholding good governance and organizational structure. Meanwhile, customer outreach along with consistent fund performance remains imperative.
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
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