Karachi, MCB-Arif Habib Savings and Investments Limited informed Pakistan Stock Exchange that Mutual Funds do not qualify as Financial Institutions/Industrial Establishments contribution. Consequently, the Company has reversed provision maintained regarding SWWF from the books of accounts of the collective Investment Schemes (CIS’s) and Voluntary Pension Schemes (VPS’s) under its managements and shall not further accrue the said provision in the aforementioned regard.
“MCB-Arif Habib Savings and Investments Limited is an Asset Management, Investment Advisory and Pension Fund Management Company, managing Open-end Mutual Fund and Pension Funds. The Company is registered with the Securities & Exchange Commission of Pakistan (SECP) and regulated under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003, NBFC and Notified Entities Regulations 2008 and Voluntary Pension System Rules 2005. MCBAH is a member of the Mutual Funds Association of Pakistan (MUFAP).
MCB-Arif Habib Savings and Investments Limited manages over Rs.64.7 billion as on March 31st, 2016. It has 14 Mutual Funds, 2 Voluntary Pension schemes and different Investments Plans in its product portfolio to meet the investment needs of its growing clientele. The Company was conceived in the year 2000 and, in March 2002, two of its flagship Funds, the MCB Pakistan Stock Market Fund (MCB-PSM) (Formerly: Pakistan Stock Market Fund PSM) and the Pakistan Income Fund (PIF) were launched.
The symbol “MCBAH” is being used by the stock exchanges for the shares of MCB-Arif Habib Savings and Investments Limited.”