Lahore, March 31, 2016 (PPI-OT):The Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of NBP Fullerton Asset Management Limited (NAFA) at “AM2+” (AM Two Plus). The rating reflects the company’s strong capacity to manage risks inherent in the asset management business. The asset manager meets high investment management industry standards and benchmarks with noted strengths in several of the rating factors.
The rating reflects the company’s positioning as one of the key players in the domestic AMC industry supported by its proficient and well qualified management team, sound operating platform and diversified product slate. Continuous enhancement of retail penetration (at end-Dec 15: 35%) lends support to the company’s business profile.
This comes as a result of management’s concerted efforts to augment the marketing team and utilising the distribution network of parent bank alongwith the continuous improvement in the investor facilitation services. The management’s increased emphasis towards Islamic products and SMA has yielded positive results. A well structured investment process and supportive decision making infrastructure provided consistency to the good fund performance.
The rating incorporates NAFA’s association with a well-known fund management group and the country’s leading commercial bank. The rating is dependent on company’s ability to strengthen its market positioning alongwith consistent enhancement in retail penetration. Stability in key human resource and sustained fund performance 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