Staff Reporter Karachi
The VIS Credit Rating Company has upgraded the Management Quality Rating (MQR) of HBL Asset Management Limited (HBL AMC) from ‘AM2+’ (AM-Two Plus) to ‘AM2++’ (AM-Two Plus Plus). Outlook on the assigned rating is ‘Stable’.
The upgrade in rating reflects the exhibited improvement in market position and fund performance. It also factors in a diverse product portfolio, adequate overall control, compliance and risk management framework, together with a well-structured investment process having a strong focus on research based decision making.
The rating also takes into account the performance of HBL AMC’s two largest income funds which fell in the top quartile as well as equity funds that witnessed significant improvement in the year.
Mir Adil Rashid, CEO HBL Asset Management Ltd., expressed his views stating that “We are proud to have achieved yet another milestone. The trust and commitment of all our Stakeholders enabled us to continue providing exceptional services, in spite of the ongoing pandemic” He added that, “Our dedication to have our best foot forward is absolute and we will continue this upward trajectory moving forward.” Management Quality ratings have six key pillars: Governance, Financial Condition and Management, Portfolio Management activities, Market Position, Track Record, Investment Administration and Client Servicing. HBL Islamic Banking, Dolmen Group join hands Indonesian
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