Karachi, December 31, 2014: The Management Quality Rating of ‘AM3-’ (AM-Three Minus) assigned to Pak-Oman Asset Management Company Limited (POAMCL), by JCR-VIS Credit Rating Company Limited (JCR-VIS), continues to be placed under ‘Rating Watch Developing’ status in view of the on-going merger process of the company with KASB Funds Limited. Progress in this regard will be actively tracked by JCR-VIS. The previous rating action was announced on 15 July, 2013.
POAMCL had total assets under management of Rs. 1.6billion at end-September’2014. The performance of funds does not compare favorably to their respective peer groups.
For further information on this rating announcement, please contact Ms. Sobia Maqbool, CFA (Ext: 604) or Mr. Javed Callea (Ext: 501) at 021-35311861-71 or fax to 021-35311872-3.
Jamal Abbas Zaidi Deputy CEO
Applicable Rating Criteria: Mutual Fund Rating (December 2006)l
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