Regulatory Alerts2025-10-23
Added · Updated
Categorization of Open-End Collective Investment Schemes as Infrastructure Funds
The Securities and Exchange Commission of Pakistan introduces a new "Infrastructure Scheme" category for Collective Investment Schemes, permitting investments in securities from the transport, energy, water, communication, and social infrastructure sectors. Perpetual schemes must maintain minimum net assets of one hundred million rupees, while closed-end schemes require at least twenty-five million rupees in seed capital from the Asset Management Company, which may be withdrawn once the scheme reaches the one hundred million rupee threshold. The regulations specify distinct structural, duration, and investment composition rules for equity, debt, and hybrid infrastructure schemes, including capped management fees of up to 3% for equity and 1.5% for debt, along with relaxed net asset value dissemination requirements for closed-end variants.