RegAlertRule · SECP · 8 Nov 2017
Direction No. 26 of 2017 – Withdrawal of Liquidity Requirements for Mutual Funds
The Securities and Exchange Commission of Pakistan withdraws the requirement to maintain 5% cash and near cash instruments in equity funds and fund of funds, previously prescribed by Direction No. 2 of 2017 and amended by Direction No. 7 of 2017. The withdrawal takes immediate effect and 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
No. SCD/DIRECTION/32/2017
November 08, 2017
Direction No. 26 of 2017
Withdrawal of Liquidity Requirements for Mutual Funds
The Securities and Exchange Commission of Pakistan, in exercise of power conferred under Section 282D of the Companies Ordinance, 1984, hereby withdraws the requirement of maintenance of 5% cash and near cash instruments in equity funds and fund of funds as earlier prescribed through Direction No. 2 of 2017, and subsequently amended through Direction No. 7 of 2017, with immediate effect.
(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
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