Lahore, March 31, 2016 (PPI-OT):The Pakistan Credit Rating Agency (PACRA) has maintained asset manager rating of ‘AM3’ (AM Three) of AKD Investment Management Limited (AKDIML). The rating reflects that the company meets good investment management standards and benchmarks.
The rating captures the company’s adequately structured investment process, reasonably experienced management team, and improving operating platform. The company continues to expand its human resource base in order to strengthen the organizational structure and enhance the quality of processes. The AUM growth of the company remained subdued resulting in a largely maintained system share.
The recent allegations on the related group company has, so far, not exerted any redemption pressure on the company’s AUMs; limiting any negative impact on business operations. The rating takes cognizance of the company’s ability to outperform peer funds in equity category, distinguishing AKDIML in the domestic industry. However, it needs to witness performance improvement in the fixed income category. High concentration – both in terms of investors and type of mutual fund, and low contribution from the retail segment remain impediment.
The rating requires AKDIML to augment its market positioning, while achieving diversity in investor as well as asset base. Improving operating platform must be nurtured to reap desired benefits. At the same time, liquidity management, given certain exposure to illiquid stocks, remains important.
For more information, contact:
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