KARACHI: ABL Asset Management Company (AMC) Limited (ABL Asset Management), one of the leading asset management companies in Pakistan, has achieved another milestone of AM2++ Management Quality Rating which has been upgraded from AM2+ by JCR-VIS Credit Rating Company.
This rating denotes “very good management characteristics” with a “stable” outlook.
This is a huge recognition for ABL Asset Management which is among the few asset management companies in Pakistan to have an AM2++ rating assigned by JCR-VIS. As compared to the peer AMCs ranked similar, this milestone is remarkable owing to the fact that it has been achieved in a span of less than ten years, said ABL Asset Management Chief Executive Alee Khalid Ghaznavi.
He further added that the company also has the distinction of being the only AMC in Pakistan to be ISO 27001-2017 Information Security Management System (ISMS) Certified.
He highlighted that the rating upgrade reflects the company’s increasing market share, improving funds’ performance and strengthening of investment management practices on a timeline basis. The rating also incorporates support from the parent bank, Allied Bank Limited (ABL). Going forward, the management intends more effective engagement with the parent bank for the sale of mutual funds, he added.
The bank has a large network of over 1,100 online branches and ATMs in Pakistan and offers various technology-based products and services to its diverse clientele. Moreover, the company’s continuing focus is to expand sales force and enhance alternate delivery channels, overall scope and functioning of the different control functions are among the key factors.