PACRA Maintains Asset Manager Rating of NBP Fund Management Limited

Lahore, June 27, 2019 (PPI-OT): The rating reflects the company’s strong position in Pakistan’s asset management industry. The company has a seasoned management team, well-developed risk management function, strong brand name, structured investment process, along with and diversified fund slate bodes well for the company in maintaining its competitive positioning. The company has experienced a decline in its AUMs by ~14%, stood at ~PKR 90bln at end Mar-19 as compared to the same period last year. The company has made a sufficient net profit for 9MFY19.

The rating incorporates from the company’s association with the National Bank of Pakistan and is expected to supplement its retail penetration which will diversify the AUMs base and strengthen its standing amongst peers. The change in the ownership, Baltoro Growth Fund, taking up (36%) stake in NBP Fund Management Limited from Alexandra Fund Management Pte. Ltd. is expected to further enhance governance and transparency through higher engagement of Baltoro Growth Fund.

The rating is dependent on the management’s ability to hold its strong position in the industry. Upholding strong organization structure along with retention of key personnel and consistent superior fund performance remains imperative for the rating.

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