JCR-VIS Credit Rating Company has upgraded the Management Quality Rating of HBL Asset Management Limited (HBL AML) to 'AM2+' (AM Two Plus). Outlook on the assigned rating has been assessed as 'Stable'. HBL AML is a wholly owned subsidiary of Habib Bank Limited, the largest bank in Pakistan.

The rating upgrade derives strength from growth in fund sizes, fund performances, improvement in organizational structure, inductions in management team and improved control framework. With the recent launch of two new funds, HBL AML is managing a diversified portfolio of a total of 19 funds. As at 31st December 2017, AUMs of the company amounted to approximately Rs 56 billion, constituting over 9 percent of mutual fund industry. HBL AML is implementing a dynamic strategy for expanding its outreach. The idea behind this strategy is to make HBL AML more approachable to everyone.-PR

Copyright Business Recorder, 2018