Pakistan Credit Rating Agency (PACRA) has upgraded the asset manager rating of NBP Fullerton Asset Management Limited (NAFA) to "AM2+". There are only four Asset Management Companies (AMCs) in Pakistan rated "AM2+" among 20 AMCs. The rating reflects NAFA's strong capacity to manage risks inherent in the asset management business. This rating incorporates the company's positioning as one of the key players in the domestic Asset Management industry.
The rating upgrade is recognition of proficient and well qualified management team, sound operating platform, diversified product slate and superior performance of funds.
NAFA is the subsidiary of National Bank of Pakistan. Presently, it is managing a diversified portfolio of 17 open-end mutual funds, two Voluntary Pension Schemes, and several investment industry mandates with over Rs 56 billion Assets under Management. NAFA's product slate includes Equity, Income, Money Market, Balanced scheme and Asset Allocation under Shariah compliant and conventional categories.-PR
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