Lahore, June 24, 2022 (PPI-OT):Al Meezan Investment Management Limited (“Al Meezan” or the “Company”) rating reflects the Company’s established standing as the largest asset managers and competitive advantage as the first and the largest Shariah-Compliant Asset Manager in Pakistan. The rating incorporates the company’s strong brand name, robust governance framework, structured investment processes, and qualified management team. The Company has segregated Compliance and Audit function in line with best practices to strengthen its control environment. In Dec’21, nearly 60% of the Funds outperformed industry average especially money market and income category.

In Sep’21, Al Meezan has launched Meezan Daily Income Fund Plan-I the objective of which is to generate high returns associated with moderate risk. The equity requirement of the Company is well above the minimum regulatory limits. During Mar’22, the AUMs of the industry grew by 8% recorded at 1.13trn. Al Meezan’s share in the industry stood at~15.5%, while amongst Shariah Compliant Funds, its share stood at ~39.2% as of Mar’22. However, Al Meezan’s AUMs stood at PKR~176bln as of Mar’22.

The rating is dependent upon the Company’s ability to sustain its market share and upholding strong investment processes and control environment. Meanwhile, consistent performance of funds compared to benchmark and peers is critical. Any sustained downturn in fund performance and/or significant loss in market share will impact the rating.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com