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Asset Management Companies in Pakistan

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Muhammad Arif : Chairman Centre of Advisory Services for Islamic Banking and Finance (CAIF), Former Head of FSCD SBP, Former Head of Research ArifHabib Investments and Member IFSB Task Force for development of Islamic Money Market, Former Member of Access to Justice Fund Supreme Court of Pakistan

A mutual fund or asset Management company is a type of financial vehicle made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets. Mutual funds are operated by professional money managers, who allocate the fund’s assets and attempt to produce capital gains or income for the fund’s investors. A mutual fund’s portfolio is structured and maintained to match the investment objectives stated in its prospectus.

Mutual funds give small or individual investors access to professionally managed portfolios of equities, bonds, and other securities. Each shareholder, therefore, participates proportionally in the gains or losses of the fund. Mutual funds invest in a vast number of securities, and performance is usually tracked as the change in the total market cap of the fund—derived by the aggregating performance of the underlying investments.

In Pakistan, the majority of mutual funds are open-ended funds. … Investors purchase mutual fund units from the fund itself or from banking/ financial companies authorized to act as distributors/ sales agents. Open-end mutual fund units are not traded on the secondary market such as the PSX.

Followings are Pakistan’s largest mutual fund providers. They offer to public to invest in these mutual funds. In these providers include the companies of banking sector, non-banking sector, insurance sector and finance sectors. There are 10 Top companies who are the providers of mutual funds.

Al Meezan Mutual Fund Limited (AMMF) was the first fund launched by Al Meezan Investments and is one of the oldest mutual funds in the private sector. It is a closed end equity fund that invests in Shariah compliant equity instruments to provide investors with Pure Profit. During its long and illustrious journey of 12 year AMMF has been paying regular dividends to its investors. Maintaining that tradition, AMMF announced 10% cash dividend i.e., Re. 1 per share for its shareholders for the year like ended June 30, 2008.

Asian Stocks Fund Limited is a public limited company incorporated in June 1994 under the Companies Ordinance, 1984 and has been registered with the Securities and Exchange Commission of Pakistan (SECP) as an Investment Company under the Investment Companies and Investment Advisers Rules, 1971 to carry on the business of a closed end investment company. The company is also registered under rule 38 of the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (NBFC Rules).

Atlas Fund of Funds (ATFF) is a closed-end fund established by a Trust Deed dated May 29, 2004 between Atlas Asset Management Limited (AAML), as the investment adviser and Central Depository Company of Pakistan Limited (CDC), as the Trustee.

These DOMINION STOCK FUND company profiles provided detailed financial data and key credit information. DOMINION STOCK FUND predominantly operates in the Investment Offices sector. Investment Company under the Investment Companies and Investment Advisers Rules. 1971 to carry out the business of a closed end investment company.

First Capital Investments Limited (FCIL), a subsidiary of First Capital Securities Corporation, is a Non-Banking Finance Company licensed to carry out Investment Advisory Services as under the NBFC Rules 2003 and is regulated by the Securities and Exchange Commission of Pakistan (SECP).

The Fund has been established through a trust deed (Trust Deed or Deed) under the Trusts Act, 1882,
executed between Dawood Capital Management Limited (DCM), 1500-A Saima Trade Towers, I. I.
Chundrigar Road, Karachi-74000, which has been licensed to undertake investment advisory services
by the Securities & Exchange Commission of Pakistan (SECP), vide its letter No. NBFC-17/IA/02/2004 dated May 26, 2004 under Non-Banking Finance Companies (Establishment & Regulations) Rules, 2003 (the Rules) and Central Depository Company of Pakistan Limited (CDC) Karachi, duly approved by the SECP to act as the Trustee, vide its letter No. NBFC-II/JD(R)/DCML-FDMF/976 dated December 2, 2004.

Golden Arrow Selected Stocks Funds Limited (GASSFL) is a Pakistan-based, closed-end mutual fund. The Company’s principal activity is to make investment in marketable securities. The Company’s investment manager is AKD Investment Management Limited.

Meezan Balanced Fund (the Fund) is a Pakistan-based closed-end balanced fund. The investment objective of the Fund is to generate long-term capital appreciation, as well as current income. It invests in equity securities and Islamic income instruments, such as Sukuk (Islamic bonds), Musharaka and Murabahainstruments,Shariah compliant spread transactions, certificate of Islamic investments, Islamic bank deposits and other Islamic income products. Al Meezan Investment Management Limited (AMIML) serves as the Fund’s management company and Central Depository Company of Pakistan Limited (CDC) is its trustee.

JS Growth Fund (the Fund) is a Pakistan-based, closed-end investment company. The Fund’s investment objective is to enable the certificate holders to participate in a diversified portfolio by prudent investment management (investment return being of a combination of capital appreciation and income). JS Investments Limited is the management company of the Fund.

Pakistan Premier Fund Limited (PPFL) is a Pakistan-based closed-end equity fund. The Company is engaged in providing investors long term capital appreciation from investments primarily in Pakistani equities. It primarily invests in shares of listed companies; term finance certificates and short-term reverse repurchase transactions. Arif Habib InvestmentsLimited is the Company’s investment advisor.

MCB-ArifHabib was established in 2000, aftermath of the financial crisis to help people in sound financial management so they pursue their dreams without any fear.

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