Skip to Content

HBL Asset Management Limited rating upgraded to AM2++

Closed
by January 7, 2021 General, Press Release

Islamabad, January 07, 2021 (PPI-OT): VIS Credit Rating Company has upgraded the Management Quality Rating (MQR) of HBL Asset Management Limited (HBL AMC) from ‘AM2+’ (AM-Two Plus) to ‘AM2++’ (AM-Two Plus Plus). Outlook on the assigned rating is ‘Stable’.

The upgrade in rating reflects the exhibited improvement in market position and fund performance. It also factors in a diverse product portfolio, adequate overall control, compliance and risk management framework, together with a well-structured investment process having a strong focus on research based decision making. The rating also takes into account the performance of HBL AMC’s two largest income funds which fell in the top quartile as well as equity funds that witnessed significant improvement in the year.

Mir Adil Rashid, CEO HBL Asset Management Ltd., expressed his views stating that, “We are proud to have achieved yet another milestone. The trust and commitment of all our Stakeholders enabled us to continue providing exceptional services, in spite of the ongoing pandemic” He added that, “Our dedication to have our best foot forward is absolute and we will continue this upward trajectory moving forward.”

Management Quality ratings have six key pillars: Governance, Financial Condition and Management, Portfolio Management activities, Market Position, Track Record, Investment Administration and Client Servicing. The rating is primarily based on a qualitative assessment but also include a quantitative analysis of the risk-adjusted performance of the asset manager.

VIS Credit Rating Company Limited (Formerly JCR-VIS Credit Rating Company) (VIS), approved by Securities and Exchange Commission of Pakistan and State Bank of Pakistan, is operating as a ‘Full Service’ rating agency providing independent rating services in Pakistan. VIS is a joint venture between Vital Information Services (Pvt.) Limited (VIS) – Pakistan’s only independent financial research organization, Pakistan Stock Exchange Limited and ISE Towers RIET Management Company Limited.

For more information, contact:
Head Office,
HBL Asset Management Limited
7th Floor, Emerald Tower, G-19, Block 5,
Main Clifton Road, Clifton, Karachi, Pakistan
Tel: +92-21-111-425-262
Fax: +92-21-35168455
Email: info@hblasset.com
Website: https://hblasset.com/

The post HBL Asset Management Limited rating upgraded to AM2++ appeared first on Business News Pakistan.

The post HBL Asset Management Limited rating upgraded to AM2++ appeared first on AsiaNet-Pakistan.

Previous
Next