Press Release

JCR-VIS assigns Management Quality Rating of AM3+ to Pak Oman Asset Management Company Limited
 

Karachi, February 4, 2008: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned Management Quality Rating of ‘AM3+’ (AM-Three Plus) to Pak-Oman Asset Management Company Limited. Having been in operations for over a year, the company has launched two funds during this period. The management team has largely been put together with almost all key positions occupied by personnel possessing prior experience in their respective fields. Shareholders of the management company include institutions from the local as well as the Oman market, which are represented on the company’s Board of Directors.

The investment management function is undertaken by an Internal Investment Committee, which is supervised by a Board level Investment Committee. Fund managers are allocated according to asset classes and meet the other IC members on a daily basis to decide on trading strategies. Presently, the company is managing two income funds, one each being open-end and closed-end. In addition to this, it is also managing discretionary portfolios which comprise equities. Performance of the funds under management will be tracked for consistency, vis-à-vis respective peer groups and stated objectives, to maintain the assigned ratings.

During the early phase of operations, the focus has been on developing policy manuals and deploying the necessary information technology infrastructure. The company is working to improve the quality of risk management manuals in light of the experience gained by the team so far. Sales team is also being developed while the company also plans to leverage on its international sponsors to attract funds from the foreign markets.

For further information on this rating announcement, please contact Mr. Safdar Kazi (Ext: 408) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 (10 lines) or fax to 5311872-3.




Faheem Ahmad
President &CEO

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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 2008 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