Lahore, December 28, 2021 (PPI-OT):The rating incorporates Atlas Asset Management Limited’s (or the “Company”) stable market share, experienced management team, structured investment decision process and adequate risk management framework. Strong ownership and good governance profile bodes well to the rating. During CY21, the Company has launched ‘Atlas Islamic Money Market Fund’ and ‘Atlas Liquid Fund’ to penetrate even further in both conventional and Islamic universe of money market. Since Dec’20, the overall AUMs of the Company increased by ~28% and currently, stood at ~PKR 51.5bln at end Sep’21, which is in line with the overall industry growth.

However, the market share of the Company remained stable at 4.8%. The Company has a modest standing in the retail avenue and intends to strengthen its sales team to provide impetus in augmenting retail penetration. To augment its revenue stream, the Company is also offering specialized investment products which includes Separately Managed Accounts with adequate AUMs.

The overall fund’s performance remained above par with majority funds meeting or exceeding industry average and benchmark. The Company remained profitable during FY21 and has an adequate equity base at end Jun’21. The rating incorporates the Company’s association with Atlas Group, a leading business conglomerates in Pakistan having investments in multiple sectors.

The rating is dependent on the Company’s ability to strengthen its market position in terms of AUMs, sustaining superior fund performance and upholding good governance and organizational structure. Meanwhile, customer outreach along with consistent fund performance remains imperative.

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