HBL AML rating upgraded to AM2+

KARACHI (PR): 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% 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. Access to sponsor’s branch network along with utilization of digital medium will play a pivotal role in this regard. The motto going forward for the company will be “Investments Made Easy”.

 ABL Asset Management achieves another


KARACHI (PR): ABL Asset Management Company Limited (ABL Asset Management), one of the leading asset management companies in Pakistan, has achieved another milestone of AM2++ Management Quality Rating which has been upgraded from AM2+ by JCR-VIS Credit Rating Company.

This rating denotes “very good management characteristics “with a “Stable” outlook. This is a huge recognition for ABL Asset Management which is among the few asset management companies in Pakistan to have AM2++ Rating assigned by JCR-VIS.  As compared to the peer AMCs ranked similar, this milestone is remarkable owing to the fact that it has been achieved in a span of less than ten years, said Alee Khalid Ghaznavi, Chief Executive of ABL Asset Management.

He further added that ABL Asset Management also has the distinction of being the only AMC in Pakistan to be ISO 27001-2017 Information Security Management System (ISMS) Certified. He highlighted that the rating upgrade reflects the company’s increasing market share, improving funds’ performance and strengthening of investment management practices on a timeline basis.

 Sindh Bank-sponsored park inaugurated

KARACHI (PR): Dr Ishtiaq Hussain Qureshi Children Park at University of Karachi, sponsored by Sindh Bank Ltd, has been inaugurated.

UoK Prof Dr Iqbal Azhar expressed great pleasure on the efforts of Sindh Bank and hoped that Sindh Bank will continue its cooperation for such social activities in future. The officials from Sindh Bank included Head of HR Khawaja Tajammul Hussain, Head of IT Anis Iqbal and GBH Abdul Rauf Chandio. VC inaugurates IT lab at Lahore LEADS University

LAHORE (PR): Vice Chancellor Lahore LEADS University Dr Mohammed Rafiq Baloch has inaugurated a state-of-the-art Information Technology laboratory at University. Dr Baloch said that opening of the IT lab will make teaching and learning much easier and more practical. In this digital age, IT lab is necessary to get world best knowledge online along with practical learning of software development.

The IT lab will facilitate undergraduates, Masters and M.Phil students of various disciplines for their research orientated tasks while enabling them to acquire latest IT based knowledge with practical approach.  The IT lab is equipped with latest 50 computers with printing, scanning and internet facility and fitted with multimedia for lectures and illustrations and net work server.

 Chairperson Computer Department Dr. Tanvir Ahmad and director student’s affairs Syed Tanvir Abbas Tabish were also present at the inauguration event. 

 Hashoo Foundation signs MoU with SPFC

LAHORE (PR): The Hashoo Foundation has signed a memorandum of understanding (MoU) with the South Punjab Forest Company (SPFC). HF will participate in the cooperative activities pertaining to climate action and sustainable forestry, primarily through engaging entrepreneurs and the private sector.

Ms Ayesha Khan, Country Director Hashoo Foundation, and Tahir Rasheed, Chief Executive Officer South Punjab Forest Company, signed the MoU, which entails collaboration in joint proposal development, technical backstopping, third party validations, capacity building, and leveraging private sector.

The MoU covers different themes within the field of environment, climate change, and carbon sequestration. Operationalizing the MoU would entail awareness-raising through advocacy and campaigns, and sharing expertise in the projects being implemented by both organizations.

“Increasing tree cover could help sequester carbon dioxide (CO2) from the atmosphere, making a significant impact in the fight against climate change” said Ayesha Khan. Tahir Rasheed expressed keen interest in benefitting from Hashoo Foundation’s core strengths and collaborating on aspects of mutual interest, particularly forestry and climate change. Signing of the memorandum will enable the two organizations to deepen their cooperation in the areas of common interest.