The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (28-November-2006)
    PACRA Assigns Entity Ratings to
Arif Habib Investment Management Limited (AHIML)
 

 
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 a long-term entity rating of “A+” (Single A plus) and a short-term rating of “A1” (A one) to Arif Habib Investment Management Limited. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.

The ratings reflect AHIML’s leading position in a rapidly evolving asset management industry. The company on the back of its experienced management, quality systems and processes, strong control environment, and a successful track record is well placed to exploit the emerging opportunities and maintain its market position and robust performance. The strong risk absorption capacity of the company and association with the Arif Habib Group are also key rating factors.

About the company: Arif Habib Investment Management Limited (AHIML), incorporated in August 2000, is one of the largest private sector asset management companies in Pakistan. The majority stake (62%) in the company is held by Arif Habib Securities Limited (AHS) – the holding company for Arif Habib Group. The group is engaged in investment and financial advisory services, brokerage, and recently expanded and diversified its operations through acquisition of majority stakes in various industrial concerns. The group also recently launched a new commercial bank – Arif Habib Rupali Bank – through acquisition of Pakistan’s operations of Rupali Bank of Bangladesh. The current Chief Executive of AHIML, Mr. Nasim Beg, is a Chartered Accountant with over 30 years of experience in the financial sector, including mutual fund industry.

AHIML currently has 7 funds under management, 5 open-end and 2 closed-end, including equity, income, asset allocation, and Islamic funds, with total assets under management currently aggregating to around PKR 20bln.

 
 
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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