JCR-VIS Reaffirms Management Quality Rating Of JSIL
KARACHI, Jan. 5 (UrduPoint / Pakistan Point News - 05th Jan, 2017 ) : JCR-VIS Credit Rating Company Limited 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 4, 2016, said press release here on Thursday. 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 pension schemes spanning over various asset classes with Shariah complaint and conventional variants.
AUMs of the entity have showed an uptick in fiscal year 2016-17 and have been recouped at 2011 levels. The stabilization of AUMs is attributable to managements enhanced efforts and strengthened sales force; the sustainability of same remains paramount from rating's perspective. However, top 10 investors account for sizeable percentage of AUMs.