NAFA announces name change

KARACHI: NAFA has announced its name change to NBP Funds, a statement said on Tuesday.

National Bank of Pakistan (NBP) is the prime sponsor of the company and the management believes that the name and logo change will enable it to further grow its retail outreach, it added.

There is no change in the ownership and / or management structure of the company, and the funds will continue to use the “NAFA” brand name.

NBP Funds is the largest asset management company in the country with assets under management (AUM) of Rs110 billion, the statement said. It has been awarded an AM1 rating (very high quality) by PACRA, which is the highest rating offered to any Asset Management Company in Pakistan, it added.