Lahore, March 31, 2016 (PPI-OT):The Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of Habib Asset Management Limited (HAML) at “AM3” (AM Three). The rating reflects that the company meets good investment management standards and benchmarks.
The rating captures the company’s experienced management, adequately structured Investment process and reasonable fund slate. The rating also incorporates HAML’s association with a strong commercial bank – Bank AL-Habib limited. The desired benefits towards enhancing the AUM base and strengthening the HAML’s brand value remains limited. This has resulted in a decline in the company’s AUMs, in turn, its system share. The performance of the funds lag behind its peers highlighting the need to strengthen the decision making process. The company’s funds currently have significantly high concentration levels.
The development of a sound business plan aimed at effectively utilizing parent bank’s support to increase the overall AUMs resulting in an enhancement in the system share remains crucial. Enhancing the diversity of fund slate along with the strengthening of human resource base supplementing the decision making process in turn improved performance is also 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