Karachi, January 05, 2017: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Management Quality Rating of JS Investments Limited (JSIL) at ‘AM2’ (AM-Two) with a ‘Stable’ Outlook. The previous rating action was announced on May 4th, 2016.
The assigned rating takes into account sponsor support, consolidating trend in Assets Under Management (AUMs) and on-going efforts to increase penetration. The AMC is facilitated in attaining higher penetration through accessing the well-developed branch network of its parent bank. JSIL’s product suite comprises ten (10) collective investment schemes and two (02) pension schemes spanning over various asset classes with Shariah compliant and conventional variants.
AUMs of the entity have showed an uptick in FY17 and have been recouped at 2011 levels. The stabilization of AUMs is attributable to management’s enhanced efforts and strengthened sales force; the sustainability of same remains paramount from rating’s perspective. However, top 10 investors account for a sizeable percentage of AUMs.
Peer ranking of funds with majority of AUMs has improved on a timeline basis. In the ongoing year, all funds featured in the 1st and 2nd quartile. As one of the key rating parameters, JCR-VIS will continue to monitor the performance of assets under management across different asset classes over time.
For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 201) or the undersigned (Ext: 207) at 35311861-70 or fax to 35311872-3.
Jamal Abbas Zaidi
Applicable Rating Criteria: Mutual Fund Rating (December 2006)
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