KARACHI, Mar 20: Al Meezan Investments (Al Meezan), Pakistan’s largest asset management company has achieved the highest possible Management Quality Rating of AM1 which denotes “Asset manager exhibit Excellent management characteristics”. Al Meezan is the only Asset Management Company in Pakistan which has achieved this rating in the history of the country.
This is a huge recognition for Al Meezan which has track record of over 21 years in managing investments, said Mr. Mohammad Shoaib, CFA, Chief Executive of Al Meezan.
Al Meezan is the largest manager for mutual funds with assets under management (AUMs) of around Rs.120 Billion (as on February 28, 2017). Working under the supervision of globally recognized Shariah Supervisory Board, it is the only full-fledged Shariah compliant asset management company in Pakistan.
Mr. Mohammad Shoaib highlighted that the rating upgrade reflects the company’s strong franchise and sizeable as well as increasing market share with continuous growth in retail penetration. The rating also incorporates consistent fund performance, well-formalized practices for investment processes, risk controls and compliance. Overall governance framework draws support from stable and professional management team along with adequate risk oversight.
He added that through professional and prudent investment management and the continuous efforts and commitment to strengthen support infrastructure in order to offer greater value and convenience to investors, we have not only been able to retain our existing investors but also managed to increase the investor base significantly. The growth in AUMs has been accompanied with significant increase in retail investor base which accounts for approximately two thirds of the total AUMs. The AMC offers a comprehensive product suite of 24 mutual funds/investment schemes spanning across asset classes including equity, income and commodity funds.
Mr. Shoaib thanked Al Mighty Allah and all investors, business partners and well wishers of Al Meezan for their confidence and trust which enabled Al Meezan to achieve this milestone. He further added “We will Insha’Allah continue to work diligently to facilitate investors in achieving their investment objectives and work towards our vision of making Shariah Compliant Investing the first choice for investors.”