Karachi, HBL Asset Management Limited informed Pakistan Stock Exchange that by the Grace of Allah, the Pakistan Credit Rating Agency Limited has upgraded Bank’s long term rating from AA+ to AAA, and maintained its short term rating as A1+.
HBL Asset Management Limited is a wholly owned subsidiary of HBL. The company was incorporated on 17 February, 2006 as a public limited company under the Companies Ordinance 1984. It was licensed for Investment Advisory and Asset Management Services by the Securities and Exchange Commission of Pakistan on 3rd April, 2006. The company is managing 8 different types of mutual funds which include 6 conventional Funds and 2 Islamic Funds along with 2 pension funds; conventional and Islamic.