Regulatory Alerts2022-02-11
Added · Updated
Circular 3 of 2022 – Framework for Fixed Rate-Return Mutual Funds
Regulation 38(2)(r)(iv) of the Regulations and clause IV of Circular No. 11 of 2009 are declared inapplicable to Fixed Rate-Return Mutual Funds. The frequency of Net Asset Value (NAV) dissemination for these schemes is determined by their Constitutive Documents rather than standard regulatory mandates. This exemption applies to Asset Management Companies, Mutual Funds, and Trustees of Collective Investment Schemes.
# SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
## SPECIALIZED COMPANIES DIVISION
### POLICY, REGULATION AND DEVELOPMENT DEPARTMENT
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**No. SCD/CIRCULAR/237/2022**
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SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
SPECIALIZED COMPANIES DIVISION
POLICY, REGULATION AND DEVELOPMENT DEPARTMENT
9. Regulation 38(2)(r)(iv) of the Regulations to the extent of NAV and clause IV of Circular No. 11 of 2009 dated March 26, 2009 shall not be applicable on this scheme and the frequency of NAV dissemination will be as specified in the Constitutive Documents.
Commissioner (SCD)
Distribution:
1. Chief Executive Officers, Asset Management Companies
2. Mutual Funds Association of Pakistan
3. Trustees of Collective Investment Schemes
NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad.
Tel: 051-9207091-4, Fax. No. 051-9100473
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