Mutual funds association of Pakistan lauds 'cost of doing business reduction'.

The Board and members of Mutual Funds Association of Pakistan (MUFAP) thank the Securities and Exchange Commission of Pakistan (SECP) and its Policy Board for taking the bold initiative to reduce the cost of doing business for investors in mutual funds via reduction in SECP fee levied on mutual fund investors.

In a letter addressed to the SECP Policy Board, MUFAP shared that in the short span of five months since the introduction of the policy reforms, the industry size has grown by 20% to Rs. 692 billion from Rs. 578 billion whereas the retail investor's investment size has risen by 24% from around Rs. 200 billion to Rs. 248 billion. Investment in Money Market and Income Funds has rise by 32% and in equity related Funds by 7%.

MUFAP also shared its future plans for increasing the low retail investor base in Pakistan. MUFAP is in the midst of developing a mass scale investor awareness program to educate and create awareness among the general public of benefits of savings via mutual funds. The Industry is also...