The Pakistan Credit Rating Agency Limited
06-Nov-25
Analyst
Usama Ali
usama.ali@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
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PACRA Withdraws Stability Rating of Alhamra Wada Fund
| Rating Type | Stability Rating | |
|
Current (06-Nov-25 ) |
Previous (21-May-25 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | AA+(f) |
| Short Term | - | - |
| Outlook | Stable | |
| Rating Watch | - | - |
In line with the decision of MCB Investment Management Limited, PACRA was requested to withdraw the stability rating assigned to Alhamra Wada Fund.
Consequently, PACRA hereby withdraws the stability rating of Alhamra Wada Fund, with immediate effect. The previous stability rating of ‘AA+’ was last announced on May 21, 2025.
About
the Entity
MCB Investment Management Limited (MCBIM) is a public listed company regulated by the Securities and Exchange Commission of Pakistan (SECP). It holds licenses for asset management, investment advisory, and pension fund management, catering to both Conventional and Shariah investment solutions. As of December 2024, MCBIM manages a diversified portfolio, including 26 Open-End Mutual Funds and 4 Voluntary Pension Schemes, while also maintaining a leading position in Separately Managed Accounts (SMA) and investment advisory services. MCBIM’s major shareholders include MCB Bank Limited (~81.42%), Adamjee Insurance Company Limited (~7.59%), and the general public (~9.28%). Mr. Khawaja Khalil Shah serves as the Chief Executive Officer of the company. The Board comprises a balanced composition of 4 Non-Executive Directors and 3 Independent Directors, ensuring robust governance, objective decision-making, and alignment with regulatory best practices. The Company’s assets under management (AUM) have grown significantly, reaching approximately PKR 393 Billion as of June 2025, reflecting its strong market presence and consistent growth in Pakistan’s asset management industry.