SECP introduces criteria for open-end schemes

Published on Fri, Jun 26 2009
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has introduced the criteria for categorization of open-end schemes managed by Asset Management Companies. Categorization has been introduced to facilitate investors in making informed investment decisions, specify investment parameters and eligible asset classes, áidentify risk profile of a scheme, enable investors to compare performance of various open-end schemes with others and against a relevant benchmark and bring uniformity. On the whole, categorization of schemes will enhance investor confidence by improving transparency to catalyze growth of the mutual funds industry, in line with best international practices.