February 27, 2019 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained the asset manager rating of Pak Oman Asset Management at ‘AM3+’, with a ‘stable’ outlook forecast.
According to a press document released by PACRA on this occasion, the rating reflects the company's sound ownership profile due to its association with a renowned financial institution, Pak Oman Investment Company Limited.
“Going forward, the management is eyeing growth in SMA business and retail client base which would support the revenue stream,” disclosed the credit rating agency.
To enhance the assets under management, a number of initiatives are being taken including the hiring of additional sales force and ongoing focus on alternative distribution channels for enhanced retail market penetration, says PACRA.
For future, the agency cautions that the rating is dependent on the company's ability to materialize its initiatives to enhance its competitive position, gain in terms of market share and maintaining strong fund performance. Meanwhile, upholding high governance standards, strong control environment and strengthening of risk management is crucial.
