The Pakistan Credit Rating Agency Limited (Pacra) has assigned an asset manager rating of "AM3" to Askari Investment Management Limited (AIM). The rating reflects the company's strong capacity to manage the risk inherent in asset management and the asset manager meets high investment management industry standards and benchmarks.
The rating reflects AIM's capacity to establish a strong asset management platform in an increasingly competitive operating environment. This capacity emanates from a qualified management team, a structured investment process, effective supporting systems and risk management policies.
The company's association with a leading commercial bank (Askari Commercial Bank Ltd) - representing a strong business group - offers synergies in distribution and marketing of units of its mutual funds. However, the extent to which the management succeeds in capitalising on this potential and the related timeline remain to be seen.
At the same time, AIM has limited operational history, and diversity in funds under management. Consequently, the efficacy of systems and processes needs to be fully tested.-PR
Comments
Comments are closed.