RegAlertRule · SECP · 27 Apr 2017
Direction No. 12 of 2017: Requirements for Asset Management Companies to Advertise Open End Collective Investment Schemes
The Securities and Exchange Commission of Pakistan directs all AMCs to exclude amounts invested by fund of fund schemes in underlying funds managed by the same AMC when publishing assets under management in advertisements. The direction, issued under section 282D of the Companies Ordinance, 1984, follows Circular No. 16 of 2014 and is distributed to AMC chief executives, the Mutual Funds Association of Pakistan and trustees of collective investment schemes.
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN SPECIALIZED COMPANIES DIVISION POLICY, REGULATION AND DEVELOPMENT DEPARTMENT
No. SCD/PRDD/Directions/557/2017
April 27, 2017
Direction No. 12 of 2017
Subject: Requirements for Asset Management Companies (AMCs) to Advertised Open End Collective Investment Schemes
This is further to Circular No: 16 of 2014 on “Requirements for Asset Management Companies to Advertised Open End Collective Investment Schemes”.
The Securities and Exchange Commission of Pakistan in exercise of the powers conferred under section 282D of the Companies Ordinance, 1984 hereby directs all AMCs to exclude the amount invested by fund of fund schemes in underlying funds managed by same AMC while publishing the amount of assets under its management in advertisements.
(Imran Inayat Butt)
Executive Director (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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