Takeover: KASB buys Crosby Asset Management
KASB Funds Limited has merged with Crosby Asset Management (Pakistan) Limited
KARACHI:
KASB Funds Limited has merged with Crosby Asset Management (Pakistan) Limited following the acquisition by KASB Funds, according to a press release issued on Wednesday. The rights to manage Crosby Dragon Fund, Crosby Phoenix Fund and AMZ Plus Income Fund have been transferred to KASB Funds on July 20 as per the approval of the Securities and Exchange Commission of Pakistan. Crosby Asset Management will be merged into KASB Funds, hence transferring all customers and accounts to KASB Funds. “The current environment encourages consolidation of the financial sector by mergers and acquisitions in order to create entities having larger equity base, larger asset profile, multiple revenue streams, intensified operational competence and strong management tiers,” said KASB Funds CEO Amer Maqbool.
Published in The Express Tribune, July 21st, 2011.
KASB Funds Limited has merged with Crosby Asset Management (Pakistan) Limited following the acquisition by KASB Funds, according to a press release issued on Wednesday. The rights to manage Crosby Dragon Fund, Crosby Phoenix Fund and AMZ Plus Income Fund have been transferred to KASB Funds on July 20 as per the approval of the Securities and Exchange Commission of Pakistan. Crosby Asset Management will be merged into KASB Funds, hence transferring all customers and accounts to KASB Funds. “The current environment encourages consolidation of the financial sector by mergers and acquisitions in order to create entities having larger equity base, larger asset profile, multiple revenue streams, intensified operational competence and strong management tiers,” said KASB Funds CEO Amer Maqbool.
Published in The Express Tribune, July 21st, 2011.