The Securities and Exchange Commission of Pakistan (SECP) has introduced new disclosure requirements requiring Asset Management Companies (AMCs) to issue a Key Fact Statement (KFS) for each Collective Investment Scheme (CIS) and Investment Plan, with the aim of improving transparency and investor understanding. Each KFS must be made readily accessible on the AMC’s website and digital platforms, as well as on the websites of digital distributors. The KFS must provide concise, structured information including the investment objective, authorized investment avenues, minimum investment amount, fund duration, performance benchmarks, subscription and redemption terms, applicable charges, and a reference to the total expense ratio (TER) in the Fund Manager Report. It must also identify key stakeholders such as the AMC, trustee, and Shariah advisor where applicable. The requirements take effect from 30 April 2025 for new CIS and Investment Plans that have not yet been launched, while existing perpetual CIS and Investment Plans must comply by 30 June 2025. AMCs must submit supplemental constitutive documents to SECP within one week of any amendments.
Securites & Exchange Commission of Pakistan 2025-03-28
Securities and Exchange Commission of Pakistan mandates Key Fact Statements for asset management companies’ collective investment schemes and investment plans
The Securities and Exchange Commission of Pakistan mandates new disclosure requirements for Asset Management Companies to enhance transparency. They must issue a Key Fact Statement for each Collective Investment Scheme and Investment Plan, detailing investment objectives, performance benchmarks, and key stakeholders. These requirements take effect on 30 April 2025 for new schemes and 30 June 2025 for existing ones.