The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (04-January-2006)
    PACRA Assigns Asset Manager Rating to Crosby Asset Management (Pakistan) Limited (CAML)
 

 
Analyst
Muhammad Usman
(+92-42-586 9504)
musman@pacra.com

 

 

 












 

 

 

 

 

 

Disclaimer
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The Pakistan Credit Rating Agency (PACRA) has assigned an asset manager rating of “AM4” to Crosby Asset Management (Pakistan) Ltd (CAML). The rating reflects the company’s adequate capacity to manage the risks inherent in asset management and the asset manager meets investment management industry standards and benchmarks.

The company’s asset management capacity is an outcome of reasonable management experience and business strategy, relevant software tools for portfolio management, adequate risk management policies and independence from reference shareholder in decision-making process. However, given its short operational history and relatively modest size in terms of professional manpower and infrastructure, CAML has not been able to develop systems and processes comparable to some peers, which have a longer operational history and considerably larger pool of assets under management. Despite these constraints, CAML has been able to discharge its primary responsibility to investors because of the relatively modest size of assets under management. However, given the existing organizational infrastructure the capacity of the company could come under considerable strain with any material increase in the size of funds under management.

About the company: Crosby Asset Management (Pakistan) Ltd, incorporated in 1993 is a wholly owned subsidiary of Crosby Asset Management International Limited, a company incorporated in the British Virgin Island, which, in turn is a subsidiary of Crosby Capital Partners (CCP). CCP, the parent company of Crosby Group of Companies, was established in 1984 and is now Asia’s leading independent investment management firm with dual headquarters in London and Hong Kong. Currently, CAML is acting as the investment management company for an open-end fund, Crosby Dragon Fund. The current Chief Executive of CAML, Mr. Mumtaz Hussain Syed, is an MBA with vast experience in the financial, telecom, cement, textile and energy sector.
 
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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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