Circular 1/ 2008 – Consolidation of mutual funds by manager

The Institute has been approached by number of practicing members seeking opinion whether asset management company / fund manager should consolidate its funds.

In this regard members are informed that the matter is under consideration of the Professional Standards and Technical Advisory Committee and Joint Committee of the Institute and Mutual Funds Association of Pakistan (MUFAP), therefore, till the outcome of the decision of both the Committees, members in practice are advised to recommend their clients (Fund Managers) to maintain the status quo i.e. not to consolidate their funds.

Further guidance on the matter will be issued in due course of time.