Pakistan Credit Rating Agency assigns asset manager rating to Primus Investment Management Limited
Lahore, June 26, 2012 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has assigned an asset manager rating of “AM3-” (AM Three Minus) to Primus Investment Management Limited (PIML). The rating denotes high Investment management industry standards and benchmarks.
The rating reflects the company’s adequately experienced management team, structured investment process, and affiliation with an acknowledged development finance institution – Pak Brunei Investment Company (PBIC).
The rating incorporates PIML’s concerted efforts towards building requisite infrastructure for fund management. Building on group synergies, PIML has a comprehensive plan for growth in assets under management to be demonstrated through launch of its first mutual fund – Primus Cash Fund.
However, given the intense competition, and subdued socio-economic environment, achieving the desired growth would be a challenge. Meanwhile, the efficacy of PIML’s systems and processes would be fully tested in the course of time.
The rating is dependent upon company’s ability to effectively execute its business strategy while leveraging its association with PBIC. At the same time, ability of the PIML’s management to work as a team and beefing up the investment management function would be crucial. In addition, superior fund performance would be an important consideration.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425