• HABIB ASSET MANAGEMENT LIMITED

    BENEFIT FROM RETURNS ON DAILY BASIS

Company Profile

Habib Asset Management Limited

Habib Asset Management (HAML) is a financial arm of Bank AL Habib Limited (AA+ rated bank) and Dawood Habib Group Company. Founded in 2005 and licensed by SECP to provide ‘asset management’ and ‘investment advisory’ services.

 

Company Details:

Company Status: MSC-Medium Sized Company.

Regulators: Securities & Exchange Commission of Pakistan (SECP)

Memberships: Mutual Fund Association of Pakistan (MUFAP)

Company CUIN Registration Number: 0052612
Company NTN: 2648356-4
Company Sales tax registration Number: S-2648356-4

 

AMC Rating

26 Jun 2020: Habib Asset Management was in the process of transformation with Bank AL Habib acquiring entire shareholding (from 30%) in the Company to make it a wholly owned subsidiary of the bank. The process is now complete with the bank's acquisition of the remaining 70% stake. The bank has injected fresh capital of PKR 450mln in the Company to meet regulatory requirement and ensure future viability. A new management team is in place now and changes on board of directors are underway. On the back of these initiatives, the Company has gained significant market share through aggressive growth in AUMs, which stand at PKR 11.6bln in May (Dec 19: 6.9bln). The upgrade in rating reflects the Company's association with Bank AL Habib, its growing market share, strong governance framework and fortified equity base. The new management team intends to enhance fund slate, while strengthening overall risk management and control processes... Press Release

Rating Type  Asset Manager
Current
(26-Jun-2020)
Previous
(26-Dec-2019)
 Action  Maintain  Maintain
 AM Rating  AM2  AM3+
 Outlook  Stable  Stable
 Rating Watch  -  -

 

MISSION & VISION STATEMENT:

Mission

“To establish Habib Funds as a leading and trusted brand for savings and investments by offering innovative investment solutions, smarter fund management and by offering superior risk-adjusted returns to our investors.”

Vision

“To be a premier Asset Management Company brand that offers creative saving plans with ethical business conduct, value added services and optimal returns, while protecting the interest of all stakeholders.”

 

Main Office:

Habib Asset Management Limited
3rd Floor, MacKinnon’s Building,
I.I. Chundrigar Road,
Karachi-74000, Pakistan
UAN:     +92-21-111-342-242
PABX:   +92-21-32469115-19
FAX:      +92-21-32469120
Web: https://www.habibfunds.com
Email: info@habibfunds.com

 

 

Branch Office:

F-303, 3rd Floor, Regency Plaza
120-P, M.M. Alam Road,
Gulberg II,
Lahore.
Tel: 042-35755515

 

Office # 10, Ground Floor 61-A,
Saudi Pak Tower, Business Centre,
Jinnah Avenue, Blue Area
Islamabad.
Tel: 051-2800397-98

 

Auditors

Funds Auditors

KPMG Taseer Hadi & Co.
Chartered Accountants
Shiekh Sultan Trust Building No.2,
Beaumont Road, Karachi.

 

AMC Auditors

Ernst & Young Ford Rhodes Sidat Hyder
Chartered Accountants
Progressive Plaza,
Beaumont Road, Karachi.
Website: www.ey.com/pakistan
Email: frsh.khi@pk.ey.com

 

Legal Advisor

Mohsin Tayebaly & Co.
Barristers & Advocates Corporate Legal Consultants
2nd Floor, Dime Centre, BC-4,
Block-9, Kehkashan, Clifton,
Karachi
Website: www.mtclaw.com.pk
Email: mtc@cyber.net.pk

 

Shariah Advisor

Mufti Ismatullah
PhD in Islamic Economics from University of Karachi. He holds the degrees of “Aalim-e-Deen” and “Takhassus Fil Fiqh” from Jamia Dar-ul-Uloom, Karachi. He has been teaching Quran, Hadith, Fiqh, Philosophy and Arabic Grammar in Dar-ul-Uloom since 1993. Mufti Sahab has a vast experience in issuing Shariah rulings (fatwa) and is currently serving Dar-ul-Ifta’ of Dar-ul-Uloom. So far he has issued about 20,000 Fatwas regarding different topics and Shariah issues. His thesis – Zar (Money) in light of Shariah – is considered as one of the useful researches of Islamic Economics and has already been published. He is a renowned research scholar, his research papers have been published in Monthly “Al Balaagh”. He wrote a book “Guide to Takaful or Islamic Insurance” which has also been published. Mufti Sahab is a member of Shariah Advisory Board of Pak Qatar Takaful Group, Askari Islamic Bank & IGI Window Takaful. He is also Chairman of Shariah Advisory Board of Bank AL Habib Limited.

Mobile No.: +92321-2729860

E-mail: ismatpe@gmail.com