Press Release

JCR-VIS Reaffirms Management Quality Rating of Al Meezan Investment Management Limited to AM2+
 

Karachi, December 31, 2015: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Management Quality Rating of Al Meezan Investment Management Limited (Al-Meezan) at ‘AM2+’ (AM-Two Plus). Outlook on the assigned rating is ‘Stable’. The previous rating action was announced on December 3rd, 2014.

Al-Meezan Investment Management Limited (AMIM) operates as the largest private Asset Management Company (AMC) in the mutual fund industry, offering exclusively Shari'ah compliant products to investors. AMIM managed net assets worth Rs. 61b at end-FY15 (FY14: Rs. 54b). Growth in Assets under Management (AUMs) has been driven by retail market penetration; retail proportion has grown in quantum representing 52.4% of total AUMs at end-FY15 (FY14: 45.3%).

The company has recently launched Meezan Gold Fund which is a Shari'ah compliant commodity scheme giving investors exposure to gold prices and is deployed against deliverable gold contracts traded on PMEX. With this addition, AMIM is the only AMC that caters to all product lines in the Shari’ah compliant segment.

The investment process is characterized by focus on down side risk, which results in the fund performing well compared to peers in a declining market. This is achieved by a low-beta equity portfolio composition. The AMC is strategically marketing equity and hybrid schemes to investors as the same are expected to generate improved returns and remain attractive to investors. A well-established research department plays a vital role in the investment strategy and decision making.

Collaboration amongst departments in AMIM has yielded in improved value-added services for clients. The AMC lays significant importance to improving the overall experience of clients and is in the process of introducing new features for added convenience which are expected to further cement AMIM’s market position.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or Mr. Jazib Ahmed, CFA (Ext: 510) at 35311861-70 or fax to 35311872-3.


Jamal Abbas Zaidi
Advisor

Applicable Rating Criteria: Mutual Fund Rating (December 2006)
http://jcrvis.com.pk/Images/MFund-20061201-2.pdf

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Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. JCR-VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2015 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited