On Mar. 28, PAK SEC introduced key fact statement requirements.
PAK SEC issued circular to introduce new requirements for asset management companies (AMCs) to issue key fact statements (KFS) to enhance transparency.
Circular Highlights
Specifies the minimum requirements of KFS, including that AMCs must ensure that each collective investment scheme (CIS) and investment plan has a separate KFS.
KFS must be accessible on websites of AMCs and digital distributors, digital platforms.
Provides the template of KFS which include key attributes such as investment objectives, authorized investment avenues, and minimum investment amount.
Plus information of the product charges such as front end load and redemption charge.
KFS must outline the details of key stakeholders, including the AMC, trustee, and Sharia advisor (if applicable), along with their contact information.
Effectiveness
The new requirements shall be applicable from Apr. 30, 2025.
