Regulatory Alerts2026-06-30
Added · Updated
Circular 13 of 2026 - Mechanism for Establishment and Regulatory Requirements for Operations of the Market Development Fund
Asset Management Companies, Pension Fund Managers, and registered trustees must contribute 1% of their respective remuneration to the Market Development Fund managed by the Mutual Fund Association of Pakistan, with contributions accruing from July 1, 2026 and remitted within ten working days of the following month. The Mutual Fund Association of Pakistan is authorized to charge a management fee of up to 1% per annum of the fund's monthly average net size and must appoint a registered trustee as custodian eligible to charge an annual fee not exceeding Rs. 500,000. Entities are prohibited from passing these charges on to investors and must explicitly disclose their contributions in annual financial statements, while the fund is restricted to specific investor education, financial inclusion, and white-label marketing activities.
More like this from MUFAP
We email you every new MUFAP publication the day it's published.