MUFAP

AcronymDefinition
MUFAPMutual Funds Association of Pakistan
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MUFAP is the trade association representing Pakistan's asset management industry comprising of 19 Asset Management Companies managing 281 Funds (in conventional and Shariah compliant range) with total assets under management (AUMs) of PKR 607 billion as of January 31, 2019.
MUFAPs key roles amongst others includes: (i) contribution to a strong national economy by encouraging savings and improving the opportunities for achieving financial independence, (ii) encouraging adherence to high ethical standards by all industry participants, (iii) advancing the interests of funds and asset managers and (iv) promoting public understanding of mutual funds, voluntary pension schemes and advisory services.
The future holds tremendous potential and MUFAP remains committed to its mission of raising the professional standards of the industry, improving public awareness and advancing the interests of all the stakeholders.
None of MUFAP's taxation proposals to encourage growth of mutual and pension funds, which in fact would have enhanced revenue for the exchequer, were considered in the federal budget.
According to the Mutual Funds Association of Pakistan (MUFAP), as of the end of March 2019, the latest month for which complete figures are available, the industry manages a total of Rs578 billion, equal to just 1.8% of gross domestic product (GDP).
Khalid Mirza, Chairman Securities and Exchange Commission (SECP) Policy Board spoke at a recent event organized by Mutual Funds Association of Pakistan (MUFAP) to launch its 2018 Yearbook.
MUFAP's role is to deal with regulatory and government authorities to address obstacles in growth of the mutual fund industry, to ensure transparency and high ethical conduct and growth of the mutual fund industry through creating public awareness and education about mutual funds and pension schemes.
MUFAP is the trade association representing Pakistan's asset management industry which comprises of 19 Asset Management Companies managing 275 Funds (in conventional and Shariah compliant range) with total assets under management (AUMs) of PKR 579bn at end 2018.
According to the new framework, distributorsselling mutual fund units of a single asset management company(AMC) will not be required to obtain license from the SECP or registerwith the Mutual Funds Association of Pakistan(MUFAP).
The Securities and Exchange Commission of Pakistan (SECP) has urged the Mutual Funds Association of Pakistan (MUFAP) lo ensure that retail investors are not charged any upfront commission on investments in mutual funds unless these investors have first been fully informed about this commission.
KARACHI, May 28 -- The Mutual Funds Association of Pakistan (MUFAP) has reacted sharply over reports regarding the amendments under finalisation of the Securities and Exchange Commission of Pakistan (SECP) Act 1997, demanding that no changes should be made in the SECP Act unless these are vetted by an independent body of experts of the highest integrity, professional ability and stature.
Islambad -- The Securities and Exchange Commission of Pakistan (SECP) has impressed upon the Mutual Funds Association of Pakistan (MUFAP) to focus on increasing the retail penetration of mutual funds.