The Pakistan Credit Rating Agency (Pacra) has maintained the asset manager rating of Arif Habib Investment Management Limited (AHIML) at 'AM2'.
The rating reflects the company's very strong capacity to master the risks inherent in asset management and the asset manager meets very high investment management industry standards and benchmarks.
The rating recognises the company's strong market position, sound internal systems and processes, a high degree of independence and control, qualified and experienced management team, effective asset allocation and risk management policies and continuous initiatives by the management for refinement in the systems and processes to further enhance the efficiency of operations.
AHIML, incorporated in August 2000, is one of the large private sector asset management companies in Pakistan. AHIML has four open-end and two closed-end funds under its management, with total funds under management currently aggregating to Rs 17 billion. 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 Arif Habib Group. The company has recently transferred its brokerage operations to a wholly owned subsidiary established for this purpose.
Meanwhile, the group continues to expand and diversify and has acquired major interests in various industrial projects and entered into a joint venture agreement with Rupali Bank of Bangladesh for acquiring its Pakistan operations. The current Chief Executive of AHIML, Nasim Beg, is a Chartered Accountant, with over 30 years of experience in the financial sector, including the mutual fund industry.
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