KARACHI (December 27 2006): JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the Management Quality rating of AKD Investment Management Limited (AKDIML) to 'AM3+' (AM-Three Plus). The management of the company has focused towards building strong support functions for fund management and administration.

The additional hiring has been undertaken in the last few months to enhance capabilities in view of the planned increase in product offering. Further development of systems can enhance risk management capabilities.

While posting consistent performance for Golden Arrow Selected Stocks Fund Limited (GASFL), the star ranking for which has been maintained at 'MFR 5-Star' for the two years period ended September 30, 2006, the performance of AKD Opportunity fund (AKDOF), which was launched in April has also improved in 1Q FY07.

Copyright Associated Press of Pakistan, 2006