PACRA Maintains Asset Manager Rating of Alfalah GHP Investment Management Limited - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- March 04, 2021 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

Quote

The rating reflects the Company's prominent position in the domestic AMC industry, supported by a structured investment process, sound governance structure, proficient and qualified management, and diversified product slate. The Company has also established its presence in the competitive investment advisory domain, supplementing its revenues. Since Jun'20, the Company's AUMs grew by ~25% stood at ~PKR 50bln at end Dec'20 (Jun'20: ~PKR 40bln).

However, the market share stood constant as the industry grew at a faster pace with strong competition. In order to further improve its market share, the management is focusing on strengthening its digital platform for better retail penetration, enhanced customer services and to create synergies with the parent bank. Timely materialization of these initiatives is important.

The Company's product slate is tilted towards fixed income/money market funds. The fund performance remained volatile, as most of the funds remain below their respective benchmarks, particularly funds from equity and Islamic equity category. The Company reported a...