Regulatory Alerts2026-07-01
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 from Collective Investment Schemes and Voluntary Pension Schemes to the Market Development Fund, with contributions accruing from July 1, 2026, and remitted within ten working days of the following month. The Mutual Fund Association of Pakistan governs the fund, charging a management fee of up to 1% per annum on the monthly average net size, while the fund is administered by a registered trustee custodian eligible for a maximum annual fee of Rs. 500,000. Contributions are prohibited from being passed on to investors, and entities are required to explicitly disclose these contributions in their annual financial statements.