The Pakistan Credit Rating Agency (PACRA) has assigned an asset manager rating of “AM3” to Atlas Asset Management Company Limited (AAMCL). The rating reflects the company's strong capacity to master the risks inherent in asset management and the asset manager meets high investment management industry standards and benchmarks.

Although AAMCL has a relatively short operational history, the capacity emanates from the intrinsic capacity of the asset manager, an outcome of an experienced and well qualified management team, comprehensive investment management strategy, stable financial resources and association with a diversified group. This is further supported by the strong focus on corporate governance, alongwith high level of independence from the reference shareholder and autonomy in decision-making. AAMCL has put in place basic internal systems including effective asset allocation and risk management policies and processes and is setting up other supporting systems.

About the company: Atlas Asset Management Company Limited (AAMCL), sponsored by the Atlas Group of Companies (AGC), was incorporated on August 20, 2002. Atlas Group, established in 1962, is one of the well-known business groups of the country with strong presence in manufacturing, finance and trading sectors. Currently, AAMCL is acting as the asset management company for an open-end fund and also plans to act as an investment advisor to closed-end funds. The current Chief Executive of AAMCL, Mr. Habib-ur-Rehman, is a chartered accountant with vast experience in the financial sector and played a pivotal role in establishing the first asset management company in the private sector.

AAMCL has signed a cooperation agreement with ING Institutional & Government Advisory services B.V., an asset manager of international repute, which would facilitate AAMCL in areas like training of staff, technical support including systems/software, investment management, overseas marketing and structuring of the company.