Pakistan Credit Rating Agency maintains asset manager rating of Habib Asset Management Limited

Lahore, June 26, 2012 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of Habib Asset Management Limited (HAML) at “AM3-” (AM Three minus). The rating has a ‘Positive Outlook’. The rating reflects HAML’s qualified management team and adequately structured investment process that corresponds to the size of funds and scale of operations.

The rating incorporates HAML’s association with a leading commercial bank, Bank AL Habib Limited, though the benefits that may accrue in terms of expansion in size are yet to happen. The company has taken various steps to improve efficacy of business functions such as risk management and investor services platform by deploying requisite resources.

However, HAML lacks diversity in funds, and concentration of AUMs is high with minimal contribution of retail. The management is taking prudent initiatives to diversify its fund slate and expand investor’s base.

The rating is dependent upon the company’s ability to further strengthen requisite human resource, while continuously improving systems and organizational architecture. Meanwhile, developing an effective marketing strategy and synergy with the group for growth in assets under management and consistent improved fund performance would be critical.

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

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