Press Release
VIS Reaffirms Management Quality Rating of Faysal Asset Management Limited
Karachi, December 31, 2025: VIS Credit Rating Company Limited (VIS) has reaffirmed the Management Quality Rating (MQR) of Faysal Asset Management Limited (‘FAML’ or the ‘AMC’) at ‘AM1’ (AM One). The MQR of ‘AM1’ indicates that the asset manager exhibits excellent management characteristics. Outlook on the assigned ratings remains ‘Stable.’ Previous rating action was announced on September 10, 2024.
Faysal Asset Management Limited (‘FAML’ or ‘the AMC’) was incorporated in 2003 as an unlisted public limited company. FAML is a subsidiary of Faysal Bank Limited (FBL), owning ~99.9% of its share capital. The AMC is licensed to conduct asset management, investment advisory, pension fund, REIT, private equity and venture capital fund management services. FAML was the first AMC to obtain a Shariah compliant certification in March 2024 from SECP and full operational transition to Islamic AMC was affirmed in January 2025, upon the transfer of management rights of conventional funds. The registered office is located in Karachi.
The reaffirmation of FAML rating reflects the AMC’s strong sponsor backing from Faysal Bank Limited, stable market positioning and continued growth in AUMs. The rating also incorporates the successful transition to a fully Shariah-compliant platform, which has strengthened the AMC’s positioning within the Islamic asset management segment.
Governance and oversight remain sound, supported by an experienced Board and senior management team, a strengthened committee framework and established investment and risk oversight processes. While the CIO position became vacant in November 2025, process to onboard a successor is underway. Nonetheless, during this period, investment function continues to be supported through defined committees and experienced functional heads.
AUM concentration moderated during the period, while the client base remained well-balanced between retail and corporate segments. Distribution strength improved with an expanded sales force and growing digital footprint. 2025 experienced the largest reduction in Industry’s AUMs (in Rs. terms) out of the past 15 years, and FAML was amongst the top #3 AMC in terms of AUM growth during 11MCY25. Fund performance showed some moderation during FY25 and 1QFY26; however, the number of funds in the top two quartiles remained stable. Going forward, improvement in fund performance will remain an important consideration from a ratings perspective.
For further information on this ratings announcement, please contact on 021-35311861-64 or email at info@vis.com.pk.
Applicable Rating Criteria:
Asset Management Companies
https://docs.vis.com.pk/Methodologies%202024/AMC-Methodology-201906.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf