Karachi: An unusual movement in the volume of certificates for the HBL Growth Fund ("HGFA") has prompted regulatory scrutiny as per the requirements of Section 97 of the Securities Act, 2015, and clause 5.6.3 of the Pakistan Stock Exchange (PSX) Regulations. The PSX has observed significant fluctuations in the trading volume of HGFA certificates during the recent period.

On September 22, 2025, HBL Growth Fund was notified of these unusual movements. According to the PSX regulations, listed companies must disclose any relevant developments or state their unawareness of such matters when unusual trading patterns occur. The PSX's oversight is part of a broader regulatory framework designed to maintain transparency and market integrity.

According to information available from the Pakistan Stock Exchange (PSX), HGFA has been advised to provide any available information that could explain the unusual volume activity. This requirement is part of PSX Regulation 5.6.3, which mandates prompt public disclosure through the PSX's electronic platform, PUCARS, if any material or price-sensitive information arises.

The inquiry into HGFA's trading volume follows PSX's standard procedure for ensuring that any significant market activity is accompanied by appropriate disclosures, thereby safeguarding investor interests. The designated market category for this scrutiny remains focused on the volume activity observed in HGFA's certificates, a critical aspect of maintaining orderly market conduct.