PAK SEC issued direction setting standardized performance benchmarks for collective investment schemes, aiming to enhance transparency, comparability in performance disclosures across conventional and Sharia-compliant asset management industry.
Document dated Dec. 20, 2024, received from PAK SEC Dec. 24, summarized Dec. 31.
Mutual Funds Association of Pakistan (MUFAP) will calculate, disseminate benchmarks. and peer group average returns monthly; benchmarks will thus align performance metrics with specific investment strategies to improve investor decision-making.
Companies required to update offering documents, fund manager reports accordingly.
Effectiveness
Asset management companies are mandated to adopt benchmarks by Jan. 20, 2025.
Regulators
PAK SEC
Entity Types
B/D; IA; Inv Co
Reference
PR 12/20/2024; Dir 24/2024, SCD/AMCW/RS/Circular/2008/168, 12/18/2024;
