JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) has upgraded the Management Quality (MQ) Rating of UBL Fund Managers Limited from ‘AM2++’ to ‘AM1’ with stable outlook. This rating denotes “Asset manager exhibit Excellent management characteristics”.
The rating upgrade of UBL FM takes into account broad based improvement across key performance areas including investment management, fund performance, control framework and growth & diversity in Assets under Management (AUMs). Overall governance framework draws support from professional management team, superior board oversight in relation to peers, along with adequate risk management practices.
The rating upgrades reflects upon our vision for continuous growth in retail and corporate penetration along with a robust management skills to make UBL Funds Pakistan leading asset Management Company in terms of its product offering and asset management quality skills.
UBL Fund Managers is a 100 % owned subsidiary of UBL Bank and is a prominent player in the mutual funds industry. UBL Funds offers a comprehensive product suite of 23 mutual funds/investment schemes spanning across asset classes including equity, income, money market and asset allocation funds. AUMs (adjusted for fund of funds) have crossed Rs. 70 billion in FY17; growth in AUMs was accompanied by significant increase in retail investor base which accounts for over half of total AUMs. Growth in AUMs has been broad based with sizeable increase in active clients during FY17 and all distribution channels recording healthy growth in sales.