PICIC Asset Management Company Limited (PICIC AMC) is a wholly owned subsidiary of NIB Bank Limited, which is sponsored by Temasek Holdings of Singapore as the single largest investor in NIB Bank with a stake in excess of 88%. PICIC AMC is registered as a Non-Banking Finance Company (NBFC) licensed by the Securities and Exchange Commission of Pakistan (SECP) to provide Asset Management and Investment Advisory services within a legal framework of the prevailing Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 and the Non-Banking Finance Companies and Notified Entities Regulations, 2008.
With the launch of two Shariah-compliant open-end mutual funds in May 2014, PICIC AMC is managing six open-end funds and two closed-end funds on behalf of around 40,000 Investors and total Assets under Management (AUM) of PKR 27.22 billion as of April 30, 2014. We also offer PICIC Bespoke, customized investment solutions, which comprises discretionary and non-discretionary portfolio management services.
PICIC AMC has been rated AM2- by JCR-VIS which denotes 'High Management Quality'.