Nabil Investment Banking Ltd. (Nabil Invest) has been assigned “[ICRANP] AMC Quality 3+ (AMC3+)” (pronounced ICRA NP Asset Management Company Quality Three Plus) Fund Management Quality Rating (FMQR) by ICRA Nepal Limited, a subsidiary of ICRA Limited, a Moody’s Investors Service company. As per ICRA Nepal, the entities with AMC3+ are adjudged to provide adequate assurance on management quality and the sign of plus appended to the symbols indicate one notch better than 3.
As per ICRA Nepal, adequate assurance on management quality factors in the ownership and technical support of Nabil Bank which has been rated [ICRANP-IR] AA- for issuer rating by ICRA Nepal, adequately established organization structure, moderate track record in Nepalese capital market as merchant banker, portfolio manager, fund manager and other advisory services. The rating also factors in satisfactory investor service practices of Nabil Invest and the processes followed by it in generating healthy returns (>100% growth in NAV within three years of operation of the fund with two 14% cash dividend during last three years of operation) while adhering to regulatory guidelines and investment policies.
As per ICRA Nepal, FMQR of Nabil Invest also factors adequacy of system and processes in place for the current level of operation, experienced senior management and fund supervisor involved in the management and supervision of the current mutual fund scheme (Nabil Balanced Fund I) amounting to NPR 750 Million issued in April 2013.
This is one of the highest credit ratings assigned to Fund Manager in Nepal till date.