HBL AMC rating upgraded

KARACHI: VIS Credit Rating Company has upgraded the Management Quality Rating (MQR) of HBL Asset Management Limited (HBL AMC) from ‘AM2+’ (AM-Two Plus) to ‘AM2++’ (AM-Two Plus Plus), a statement said.

The outlook on the assigned rating is ‘Stable’, it added.

The upgraded rating reflects the exhibited improvement in the market position and fund performance.

It also factors in a diverse product portfolio, adequate overall control, compliance, and risk management framework, together with a well-structured investment process having a strong focus on the research-based decision making, it said.

The rating also takes into account the performance of HBL AMC’s two largest income funds, which fell in the top quartile, as well as equity funds that witnessed significant improvement in the year, it added.