The JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned Management Quality Rating of 'AM3+' (AM-Three Plus) to Pak-Oman Asset Management Company Limited, says a press release. Having been in operations for over a year, the company has launched two funds during this period.
The management team has largely been put together with almost all-key positions occupied by personnel possessing prior experience in their respective fields. Shareholders of the Management Company include institutions from the local as well as the Oman market, which are represented on the company's board of directors.
The investment management function is undertaken by an Internal Investment Committee, which is supervised by a board-level Investment Committee. The Fund managers are allocated according to asset classes and meet the other IC members on a daily basis to decide on trading strategies.
At present, the company is managing two income funds, one each being open-end and closed-end. In addition to this, it is also managing discretionary portfolios, which comprise equities. The performance of the funds under management will be tracked for consistency, vis-à-vis respective peer groups and stated objectives, to maintain the assigned ratings.
During the early phase of operations, the focus has been on developing policy manuals and deploying the necessary information technology infrastructure. The company is working on improving the quality of risk management manuals in light of the experience gained by the team so far. The sales team is also being developed while the company also plans to leverage on its international sponsors to attract funds from the foreign markets.-PR