Magnus Investment to grow on the back of Employee Contributory Funds regulations 2018: JCR-VIS

By MG News | February 15, 2019 at 09:55 AM GMT+05:00

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February 15, 2019 (MLN): JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has upgraded the Management Quality Rating (MQR) of Magnus Investment Advisors Limited (MIAL) to ‘AM2+ (IA)’ from ‘AM2 (IA) while the outlook on the assigned rating is ‘Stable’.

According to the credit rating agency, the assigned rating factors in MIAL’s strong internal control environment and its orientation towards transparency and conformity to regulatory requirements.

“The rating derives strength from the company’s established business position in investment advisory services, improvement witnessed in board composition and reporting structures, well-defined organizational structure, healthy growth in AUMs and superior long-term portfolio returns of the funds managed vis-à-vis established benchmarks.”

Going forward, JCR- VIS expects growth in AUMs to be facilitated by implementation of Employee Contributory Funds regulations 2018 (effective from June’2019) which has enhanced compliance and reporting requirements.

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