The Pakistan Credit Rating Agency (Pacra) has maintained the Asset Management Intrinsic Rating of 'aa' (Double a) for Abamco Limited.
'Double a' is the third highest possible rating and reflects the company's excellent capacity to master the risks inherent in asset management.
This capacity emanates from eight years of track record in managing open and closed-ended mutual funds as well as its internal systems and processes.
Abamco is well positioned to retain its leadership among private sector asset management companies in the face of increased competition. As a recognised player in the field of asset management, Abamco offers a range of mutual funds with varying risk/return profiles and, therefore, catering to a diverse set of individuals and institutional investors.
Significant improvement in Abamco's profitability was registered during the last one-year due to substantial growth in the size of funds under management. The company has a total of Rs 13.9 billion assets under management. Abamco's equity has increased from Rs 181 million in June 2003 to Rs 490 million as of March 31, 2004.
Abamco's marketing approach is characterised as transparent with regard to asset management and active support for investors. Owing to well-conceived investment policies, Abamco has provided investors with consistent returns.
Considering the increasing competition in the mutual fund sector and Abamco's vision to maintain its market leadership, it is currently in the process of re-organisation in an effort to bring greater efficiency and transparency in operations.
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