Magnus Investment got Management Quality Rating

JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Management Quality rating of Magnus Investment Advisors Limited (Magnus) at ‘AM3+’ (AM-Three Plus). Outlook on the rating is ‘Stable’.

The reaffirmation takes into account policy framework in place, which exhibits strong disposition towards self regulation, transparency and disclosures to clients. Portfolio Management and Investment Management processes are streamlined. The processes reflect sound analytical input; from security analysis to development of investment strategy and achievement of investment objectives. Moreover, quality of reporting to clients is comprehensive and there is standardization of services across clients. Above average performance of portfolios under management, both on the equities and fixed income side, is a testament to the efficacy of investment management processes at Magnus.

A new Chief Executive Officer (CEO) has recently been appointed; the previous CEO continues to hold office of the Chief Investment Officer and is also the company’s major shareholder. In view of continued turnover, redundancies are being built in the team to ensure smooth transition. The company has appointed a third party as the internal audit firm for FY13; this is the first such exercise that has been commissioned by the company; quarterly reports and findings of internal audit have yet to be finalized.