The Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of ABAMCO Limited at “AM2”. The rating reflects the company’s very strong capacity to master the risks inherent in asset management and the asset manager meets very high investment management industry standards and benchmarks.
This capacity emanates from ten years of track record, an experienced and well-qualified management team, comprehensive investment management strategy, and association with a financially strong group. The prospective capability of the company is further enhanced by strengthening some of the important supporting systems and processes providing higher level of independence from the reference shareholder and autonomy in decision-making. The company is now well poised to attain its growth plans and maintain its leadership position among private sector asset management companies in the face of increasing competition.
About the company: Incorporated in 1995, ABAMCO is the largest private sector asset management company in Pakistan, registered with the Securities & Exchange Commission (SECP) as Investment Advisor for closed-end funds and Asset Management Company for management of open-end funds. It is a subsidiary of Jahangir Siddiqui & Company Ltd. Other institutional shareholders of ABAMCO
include AMVESCAP Plc. — a leading global asset management company, International Finance Corporation & MCB Bank Ltd. The current Chief Executive is a chartered accountant with considerable exposure to the financial sector.
Currently, the company is managing ten funds (five open-end and five closed-end) with assets under management crossing PKR 26 bln mark. Various other funds and structured products like index fund, sector fund, capital guarantee product, pension fund are in the pipeline. Additionally, the management is currently also planning an IPO for the first open end index fund in Pakistan. The company is also developing various investment plans and saving schemes subsequent to framing of related rules and regulations by the SECP.
