RegAlert2026-07-01
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.
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SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
SPECIALIZED COMPANIES DIVISION
FUND MANAGEMENT DEPARTMENT
No. SCD/PRDD/CIRCULAR/377/2026
June 30, 2026
Circular No. 13 of 2026
Subject: Mechanism for Establishment and Regulatory Requirements for Operations of the Market Development Fund
The Securities and Exchange Commission of Pakistan (the “Commission”) in exercise of its powers conferred under Section 282(B)(3) of the Companies Ordinance, 1984 (XLVII of 1984) read with Regulation 38(1)(ab), 41(pa) and 67B(xvi) of the Non-Banking Finance Companies and Notified Entities Regulations, 2008, hereby specifies the following mechanism for establishment of Market Development Fund (MDF) along with regulatory requirements for operations of the MDF by the Mutual Fund Association of Pakistan (MUFAP).
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Lineage: In force
Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.