Islamabad (TDI): The Securities and Exchange Commission of Pakistan (SECP) has set new performance benchmarks for Asset Management Companies (AMCs) that offer Collective Investment Schemes (CIS).
The move, according to a statement from SECP, is aimed at ensuring transparency, consistency and comparability in the asset management industry.
The new performance standards are true for both conventional and Shariah-compliant schemes, it said.
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The benchmarks will allow investors to make more informed decisions by using performance metrics to form their investment strategies, it said.
The Mutual Funds Association of Pakistan (MUFAP) will calculate and disseminate these benchmarks monthly as well as the peer group average returns for various categories.
SECP has urged AMCs to adopt these standards within a month and prepare documents and Fund Manager Reports accordingly.
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As per the announcement, the MUFAP is responsible for deciding 1-month, 3-month, 6-month, 9-month and 1-year PKISRV rates (yields) daily.
MUFAP will publish all the category-wise benchmarks every month, as well as the ranking of CIS based on their last 365 days’ returns, on a monthly basis.
