The Pakistan Credit Rating Agency (Pacra) has assigned 5-Star fund rating to Pakistan Premier Fund Limited (PPF), which reflects a superior performance relative to its peers. The rating is a composite measure of two factors, namely a) returns, b) risk associated with the returns measured by Sharpe Ratio.
About the Fund: PPF, a closed-end mutual fund, is a public limited company and listed on all the three stock exchanges in Pakistan. The Fund was established in 1995 and Arif Habib Investment Management Ltd (AHIML) is its Investment Advisor since December 2002.
The Fund's investment strategy is aimed at accumulating long-term value stocks (companies run by quality management, having a high average ROE and sustainable earning growth), some of which may be less liquid but are at a discount to their fair value.
Equity investment decisions are based on fair value of a company--as determined by the research division and approved by the Investment Committee--and its degree of under- or over-pricing, as compared to market price.
AHIML, incorporated in August 2000, is one of the largest asset management companies in Pakistan, managing assets of above Rs 17 billion at end-2005. The majority stake in the company is held by Arif Habib Securities Limited (AHS). AHS, which started as a traditional security firm, is now acquiring the character of a holding company for the Arif Habib Group.
AHIML has an asset manager rating of 'AM2', which reflects the company's very strong capacity to manage the risks inherent in asset management. The Chief Executive, Nasim Beg, is a chartered accountant with over 30 years' experience in the financial sector, including mutual fund industry.
The head of Equity Funds is an MBA with over 10 years' experience in equity research and portfolio management.
Comments
Comments are closed.