Regulatory Alerts2025-08-22
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Circular No. 23 of 2025 - Categorization of Open-End Collective Investment Schemes
The Securities and Exchange Commission of Pakistan has introduced an 'Infrastructure Scheme' category for collective investment schemes, specifying mandatory disclosure of asset class types and core sectors such as transport, energy, and social infrastructure. Asset Management Companies must maintain minimum net assets of one hundred million rupees and meet strict seed capital, liquidity, and operational requirements tailored to equity, debt, and hybrid infrastructure structures. The framework further dictates specific investment avenues, exposure limits, performance benchmarks, and fee caps to regulate the risk and management of these infrastructure-focused funds.
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