Islamabad: The Pakistan Credit Rating Agency Limited (PACRA) has upgraded the asset manager rating of AWT Investments Limited (AWTIL), citing substantial growth in assets under management (AUMs) and robust fund performance. AWTIL, a subsidiary of the Army Welfare Trust, has shown significant advancement in the asset management sector, with its market share rising to 1.1% in FY24 from 0.5% in FY23.

According to The Pakistan Credit Rating Agency Limited announcement issued on 31 July 2024, the upgrade reflects the company's enhanced positioning among its peers due to its strong performance and technological advancements. AWTIL has launched a web portal and mobile app that improve customer experience and expand its retail footprint in a digital era. The company's AUMs surged to PKR 30 billion in FY24, up from PKR 7.3 billion in FY23, driven by an increasing share of individual investors and superior fund performance.

During FY24, AWTIL also strengthened its organizational structure, adding experienced professionals in key departments such as Risk, Research, Compliance, and IT. These strategic moves, along with sponsor support and group synergies, have significantly benefited the company's operations and financial outcomes. For instance, in the first nine months of FY24, the company's total income grew to PKR 229.7 million from PKR 65.2 million in the same period the previous year, primarily due to gains from investments and management fees.

The company plans to diversify its product offerings by introducing voluntary pension schemes by the end of the first quarter of FY25. Additionally, AWTIL has implemented an enhanced version of Asset Connect for the mutual fund segment, further indicating its commitment to leveraging technology to drive growth. The company's equity base also increased to PKR 440 million at the end of March 2024, supported by equity injections from the sponsor and internal cash flow generation.