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Company & Group Profile
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Who We Are
MCB Funds (MCB Investment Management Limited) is a Public Limited Company listed on Pakistan Stock Exchange. The Company is registered as a Pension Fund Manager under the Voluntary Pension System Rules, 2005, as an Asset Management Company and an Investment Advisor under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003. MCB Funds is a member of the Mutual Funds Association of Pakistan (MUFAP).
Pakistan Credit Rating Agency Limited (PACRA) has assigned highest Asset Manager Rating of AM1 to MCB Funds. This high quality Asset Manager Rating denotes that MCB Funds meets or exceeds the overall investment management industry best practices and highest benchmarks.
MCB Funds is currently managing nineteen (19) Open-end Schemes, Four (4) Voluntary Pension Schemes and more than fifty (50) Discretionary and Non- Discretionary Portfolios. The Company has over 185,000+ Customers comprising individuals, sole-proprietorships, retirement funds, public and private sector entities and charitable institutions. The Assets under Management of MCB Funds as of April 2024 are over Rs. 300+ billion.
MCB Funds was incorporated in the name of Arif Habib Investment Management Limited (AHIML) on August 30, 2000 as an unquoted Public Limited Company. During 2008, AHIML was listed on the Karachi Stock Exchange Limited (now integrated into the Pakistan Stock Exchange Limited) by way of offer for sale of shares by a few of its existing shareholders to the general public. In the same financial year, the name of AHIML was changed from âArif Habib Investment Management Limitedâ to âArif Habib Investments Limitedâ (AHIL). On January 19, 2011, a transfer agreement was signed between Arif Habib Corporation Limited (AHCL) [the then parent of AHIL] and MCB Bank Limited (MCB Bank) [the then parent of MCB Asset Management Company Limited (MCB AMC)] for transfer of the entire business of MCB AMC to AHIL to achieve synergies in business and to access a wider distribution network. The scheme of amalgamation (âthe Schemeâ) was approved by the shareholders of AHIL and MCB AMC in their respective extraordinary general meetings held on May 21, 2011. The Scheme was also approved by the Securities and Exchange Commission of Pakistan (SECP) with the effective date of amalgamation being June 27, 2011 (the effective date). In accordance with the terms contained in the Scheme, the Company became a subsidiary of MCB Bank Limited from the end of the year ended June 30, 2011 which owned 51.33% ordinary shares in the Company. Pursuant to the merger of MCB AMC with and into AHIL, the name of AHIL was changed to MCB-Arif Habib Savings and Investments Limited, effective from May 23, 2013.
On April 18, 2023, MCB Bank Limited (MCB) acquired 21,664,167 (30.09%) shares of MCB Arif Habib Savings & Investment Limited (MCB-AH) from Arif Habib Corporation Limited (AHCL). By virtue of this transaction MCB Bank Limitedâs shareholding in MCB-AH has increased from 36,956,768 (51.33%) shares to 58,620,935 (81.42%) and AHCL no longer holds any shares in MCB-AH. With MCB Bank’s increased shareholding of 81.42%, we proudly announce our fresh brand identity, MCB Funds, currently trading as MCB Investment Management Limited.
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What We Do
As the most experienced Asset Management Company in Pakistan, we offer a comprehensive range of investment solutions especially designed to help you achieve your financial goals. Our team manages 19 Mutual Funds, 4 voluntary pension schemes and different investments plans in its product portfolio to meet the investment needs of its growing clientele.
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Why Choose Us
- MCB Funds (MCB Investment Management Limited) has been an industry leader, setting international standards and bringing innovative products to market.
- MCB Funds has one of the largest client bases in the private sector asset management companies.
- MCB Funds enjoys one of the highest Asset Manager Rating of âAM1â (by PACRA) in the industry.
- MCB Funds is the first Asset Management Company to launch a digital savings solution, iSave, to ease the process of savings for our clients.
- MCB Pakistan Asset Allocation Fund (MCB-PAAF) has been assigned 5-star ranking for one year due to its outstanding performance by PACRA based on returns achieved up to 30th June 2012.
- Our Equity based fund i.e. MCB Pakistan Stock Market Fund was included in the Worldâs Top 100 Equity Funds for 2012 by Thomson Reuters Lipper.
- Pakistan Income Fund launched in March 2002 by MCB Funds was the first Income Fund in the Mutual Fund industry.
- MCB Funds brought first private sector Equity Fund of the country in March 2002, i.e. MCB Pakistan Stock Market Fund, which has created an Alpha of 192% (over KSE-100) since inception till April 2013.
- Pakistan Cash Management Fund was the first Money Market Fund to be assigned stability rating of âAAA(f)â in the country.
- MCB Pakistan Sovereign Fund MCB-PSF, established in 2003, was the first sovereign risk Income Fund in the industry.
- Pakistan Premier Fund (PPF, then a Closed-end Fund) was also placed in KSE top 25 companies in 2005 and 2006.
- Pakistan Income Enhancement Fund rewrote history in Fixed Income Funds category (inception in Augâ2008) by earning highest ever annualized return of 18.33% in FYâ09 (normal return without any provisioning reversals).
- Alhamra Islamic Asset Allocation fund was the first Mutual Fund in the country with permission from the State Bank of Pakistan to invest in overseas markets.
- MCB Funds is the first Asset Management Company to introduce ATM card withdrawal facility for retail clients.
- MCB Funds is the first Asset Management Company to convert a closed-end fund (Pakistan Capital Market Fund) into an open-end fund in 2006, to provide our investors with the maximum benefit.
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RATINGS
Asset Manager Rating by PACRA
Management Company:Â AM1 *
* âAM1â:Â Asset Manager meets very high investment management industry standards and benchmarks with noted strengths in several of the rating factors.
Date: 6th October 2023
GROUP PROFILE
MCB Bank Limited
MCB Bank is one of the oldest banks of Pakistan, incorporated in private sector in 1947. It was nationalized in 1974 and privatized in 1991. MCB Bankâs major shareholding is owned by Nishat group, a prominent business conglomerate, having diversified interests in Textiles, Cement, Banking, Insurance, Power Generation, Hotel Business, Agriculture, Dairy, Auto Manufacturing and Paper Products. To enter into international capital markets, the Bank launched its Global Depositary Receipts (GDRs) in 2006. It was the first Pakistani Bank that had its GDRs listed on the London Stock Exchange. In 2008, the Bank entered into a strategic partnership with Maybank, Malaysia, which owns 18.78% stake in MCB through Maybank International Trust (Labuan) Berhad. In 2017, operations of NIB Bank were successfully amalgamated into and with MCB under a merger scheme. MCB is the first Pakistani Bank which incorporated a wholly owned Islamic Banking subsidiary, MCB Islamic Bank Limited, to meet requirements of a significant segment of society, for financial solutions that conform to Shariâah rulings, and demonstrate our confidence in the potential of the Islamic Banking industry in the country.
| Country of incorporation | % of interest held | |
|---|---|---|
| Associates | ||
| Euronet Pakistan (Private) Limited | Pakistan | 30% |
| Adamjee Insurance Company Limited | Pakistan | 20% |
| Subsidiaries | ||
| MCB Islamic Bank Limited | Pakistan | 100.00% |
| MCB Investment Management Limited | Pakistan | 81.42% |
| MCB Non-Bank Credit Organization Closed Joint Stock Company | Azerbaijan | 99.94% |
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