Lahore: The Pakistan Credit Rating Agency (PACRA) has assigned ‘Positive Outlook’ to the asset manager rating – ‘AM2-‘ (AM Two Minus) – of NBP Fullerton Asset Management Limited (formerly; National Fullerton Asset Management Limited).
The rating reflects the company’s proficient and experienced management team, sound quality of systems and processes, sponsors’ strength and diverse product slate. It recognizes the strengthening of risk management and investment management platform that has helped improvement in performance of NAFA’s funds. Although the company has experienced strong growth in assets under management, it observed limited diversity in terms of AUM and investor profile. The rating incorporates NAFA’s association with a known international fund management group and the country’s largest commercial bank.
The rating has a positive outlook that recognizes the company’s ability to effectively execute its business strategy in an increasingly competitive operating environment, while successfully capitalizing on its parent bank’s network. The outlook would be evaluated for a rating upgrade as the company demonstrates sustainability in funds’ performance while achieving operational break-even.