ISLAMABAD (WEB DESK )
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 & 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.
About HBL Asset Management Ltd.:
HBL Asset Management Limited (HBL AMC) is one of the leading Investment Managers in Pakistan, with an AUM of 78.6bn as of December 31st, 2020. HBL AMC is a wholly owned subsidiary of HBL, Pakistan’s largest bank and the ﬁrst Commercial Bank to be established in the country in 1947.
HBL Asset Management Limited (HBL AMC) was incorporated in 2006 and offers a range of Investment Solutions, Mutual Funds and Investment Advisory Services for Institutions and Individuals. Holding a track record of strong and consistent growth, HBL AMC’s product suite offers both Conventional and Shariah Compliant Investment Solutions.
HBL AMC is registered with the Securities and Exchange Commission of Pakistan (SECP) and holds a management quality rating of AM2++ by VIS Credit Rating Company, denoting very good management.