PACRA Maintains the Stability Rating of Faysal MTS Fund.
|Rating Type||Stability Rating|
At end‐Jun'19, fund's 79% net assets were invested in cash, while the remaining assets of the fund were invested under MTS 14%, and T‐bills 6%.
Going forward, the fund intends to maintain it's level of cash holdings while increasing it's investments in government securities..
Faysal Asset Management Limited was incorporated in 2003 as an unlisted public limited company under the company's ordinance, 1984. The major shareholding lies with Faysal Bank Limited having almost the entire stake in the company. During Nov-18, Faysal Bank Limited acquired ~50% stake from Bahamas Ltd and 20% from Mr. Razi Ur Rahman Khan – the former CEO of the company. The company is managing a diversified portfolio of twelve open-end funds having AUMs of ~PKR 8.5 billion at end-Jun'19.
The former CEO, Mr. Razi-ur-Rahman Khan left the company amid Nov-18. During Dec-18, Mr. Latif has been appointed as the new CEO of Faysal Asset Management Limited. Mr. Latif has been associated with the capital markets for fifteen years. Mr. Latif is a LUMS Alumni and has done a number of capital market courses with CFA association, Daiwa, J.P. Morgan and Bahrain Institute of Banking and Finance (BIBF). He has also completed his Director certification program from IBA.