The Pakistan Credit Rating Agency (PACRA), on Tuesday August 28, maintained the Asset Manager Rating of Lakson Investments Limited. A rating of ‘AM2+’ has been maintained for the company, with the previous rating decision having been made on December 22, 2017.
According to the rating agency, the rating reflects the company’s well-structured investment management framework, sound operating platform, diverse product slate and an experienced management team. It also incorporates the affiliation of the company with a prominent group, Lakson Group.
According to a press release issued by the rating agency, “The Company has a structured investment decision-making process and the management team is focused on delivering sound and consistent fund performance results. The increasing penetration into the retail segment would add diversity to the AUMs base of the company. The company has a marketing and distribution strategy in place to strengthen its clientele and augment the retail penetration,” says PACRA.
According to a press release issued by PACRA, the rating is dependent upon the company's ability to successfully execute its business strategy encompassing enhancement in system share while further diluting AUM concentration and expanding the retail investor base.
“Going forward, the management’s success in tapping the available potential, would be critical for the overall positioning of the company,” it said.
Lakson Investments Limited, the investment management company of the Lakson Group, was incorporated on January 02, 2009 as an un-listed public company. It is licensed to undertake Asset Management and Investment Advisory Services.
The Company’s control vests in an eight-member board, comprising four executives of group companies and four independent directors. The Chairman of the Lakson Group, Mr. Iqbal Ali Lakhani, is the Chairman of Lakson Investment’s board.
The company is currently managing six open-end funds in diversified categories with an aggregate AUM base of PKR 16.7 billion at end Dec-17.
According to PACRA, the company plans to diversify its fund slate by launching Private Equity and Venture Capital funds.