Atlas Asset Management Limited

PACRA Maintains Asset Manager Rating of
Atlas Asset Management Limited (AAML)

Analyst
Usman Khizer
(+92-42-586 9504)
ukhizer@pacra.com

Disclaimer
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The Pakistan Credit Rating Agency (PACRA) has maintained asset manager rating of Atlas Asset Management Limited (AAML) at “AM3+”. 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.

The rating reflects the company’s experienced management team, effective risk management framework, and a structured investment process. Given increasing competition in the asset management industry, AAML is working on launching new funds to offer more options to potential investors. Moreover, AAML is expanding its outreach, with a focus on leveraging the established franchise of Atlas group in addition to utilizing infrastructure of different group companies for developing distribution setups.

About the company: AAML, incorporated in August 2002, is majority owned (88%) by Shirazi Investments (Pvt) Limited – the holding company of Atlas group. Atlas group, established in 1962, is one of the well-known business groups of the country with strong presence in manufacturing, financial, and trading sectors. The group has recently entered into commercial banking – Atlas Bank Limited. AAML’s board of directors, in addition to two Shirazi family members, comprises independent experienced professionals including a representative of ING – a global asset manager and technical partner of AAML. Mr. M. Habib-ur-Rahman, the CEO of AAML, has extensive experience of the mutual fund industry.

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.

The Pakistan Credit Rating Agency Limited	Press Release
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Rating Action Lahore: (16-January-2007)