Karachi, October 13, 2023 – The Pakistan Credit Rating Agency (PACRA) has bestowed an Asset Manager rating of ‘AM2’ (AM-Two) with a stable outlook upon Pak-Qatar Asset Management Company Limited (PQAMC), signifying the company’s dedication to excellence in Islamic fund management.
This ‘AM2’ rating underscores PQAMC’s commitment to maintaining high investment management industry standards and benchmarks. It recognizes the company’s notable strengths in various rating factors, attesting to its exceptional performance in the field of Islamic fund management.
PQAMC, a part of the Pak Qatar Group, which is Pakistan’s premier and pioneer Islamic financial services group, offers a comprehensive range of savings and protection solutions that adhere to the principles of Sharia-compliant finance.
Expressing pride in the achievement, a PQAMC spokesperson stated, “The trust bestowed upon us by our valued partners stands as a testament to our unwavering dedication to excellence. Within one year of operations, we have attained various remarkable milestones, including achieving an Assets Under Management (AUM) size exceeding Rs. 15.5 billion and the Governance Rating of AM2, which signifies high-quality investment management industry standards.”
In its brief history, PQAMC has successfully launched 9 Funds/Investment Plans, catering to both Corporate and Retail Investors. These offerings include the Equity Fund, Income Funds, Money Market Funds, Asset Allocation Fund, Fixed Income Plan, and Daily Dividend Plan, providing a wide array of options to meet the diverse needs of potential investors.
Furthermore, PACRA has rated PQAMC’s Funds, with ratings ranging from “AA” (Very High Credit Quality) to “A” (High Credit Quality Rating), all with stable outlooks. This rating underlines the sound financial foundation and reliability of these investment options, instilling confidence in investors.
PQAMC’s achievement of the ‘AM2’ rating with a stable outlook highlights the company’s dedication to maintaining the highest industry standards in the field of Islamic fund management. As it continues to provide innovative and Sharia-compliant financial solutions, PQAMC’s commitment to excellence remains unwavering.
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