Karachi: The Pakistan Stock Exchange announced that the JS Momentum Factor Exchange Traded Fund (JSMFETF) has commenced the rebalancing of its portfolio as of August 7, 2024. This action follows the guidelines set by Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations, as well as the provisions outlined in the offering document of the JS Momentum Factor Exchange Traded Fund (OSMFETF).

The rebalancing is effective immediately, marking a significant adjustment in the fund’s strategy to align with the recent updates to the JS Momentum Factor Index. According to information available from the Pakistan Stock Exchange (PSX), the fund's Indicative Net Asset Value (iNAV) will continue to be calculated based on the previous asset basket. This measure ensures ongoing transparency and consistency in value reporting, though it may not accurately reflect the updated portfolio composition during this transitional phase.

The Exchange has issued a notification to all TRE Certificate Holders to apprise them of these changes. The completion of the rebalancing process will be communicated to the exchange, ensuring all market participants are informed of the new portfolio structure once established.