The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (19-October-2006)
    PACRA Assigns the Asset Manager Rating to
Alfalah GHP Investment Management Limited (AGIM)
 

 
Analyst
Moin Khalid
(+92-42-586 9504)
moin@pacra.com

 

 

 













 

 

 

 

 

 

Disclaimer
This press release is transmitted to you for this sole purpose of dissemination through your newspaper/magazine/agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to PACRA. However, PACRA has the sole right of distribution of its press releases for consideration or otherwise through any media.

  

The Pakistan Credit Rating Agency (PACRA) has assigned an asset manager rating of “AM3” to Alfalah GHP Investment Management Limited (AGIM). The rating reflects the company’s strong capacity to manage the risks inherent in asset management and the asset manager meets high investment management industry standards and benchmarks.

This capacity emanates from a well-qualified and experienced management team, a structured investment process, effective supporting systems and risk management policies. The company’s association with a leading commercial bank, representing a strong business group, offers synergies in distribution and marketing of units of its mutual funds.   AGIM has limited operational history, size and diversity in funds under management. Consequently, the efficacy of systems and processes needs to be fully tested.

About the company: AGIM, a subsidiary of Bank Alfalah Limited (BAL), commenced operations in March 2005. BAL, the fifth largest bank in the country in terms of total assets, has shown aggressive expansion in recent years and currently has a network of 165 branches. The Abu Dhabi Group comprising prominent members of the ruling family and leading businessmen of UAE owns the majority shareholding in the bank. The Group has expanded its investments in Pakistan in the financial, telecommunication and real-estate sectors. The other equity partner, with 20% shareholding, is GHP Financial Services – an international portfolio management and investment advisory company based in Switzerland. GHP provided technical support to the company in the initial process of development of systems and processes, and is also involved in major policy and strategic decisions.

AGIM currently has one Fund under management – Alfalah GHP Value Fund – an open-end broad based asset allocation fund. The CEO, Mr. Abdul Aziz Anis, a Chartered Financial Analyst, has considerable experience in Pakistan’s capital markets.
 
The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity.

PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings.

PACRA's opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.

 

    
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