Press Release

JCR-VIS assigns MQ rating of AM3+ to Faysal Asset Management Limited

Karachi, February 24, 2009: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned Management Quality rating of ‘AM3+’ (AM-3 Plus) to Faysal Asset Management Limited (FAML).

The management team of FAML has remained stable with additions in the areas of risk management and fund management departments. The AMC is currently managing three funds with total assets under management having reduced from Rs. 8.37b in January 2008 to Rs. 6.27b as at December 31, 2008. A decline was noted in the performance of the balanced fund, the returns of which were in the lowest quartile in its peer group for calendar year 2008. The other two funds saw minimal revaluation impact on account of nominal TFC holdings. The total number of account holders declined over this period.

For further information on this rating announcement, please contact Mr. Safdar Kazi (Ext: 408) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 or fax to 5311872-3.


Faheem Ahmad
President & CEO

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