Karachi, NBP Fund Management Limited informed Pakistan Stock Exchange that Sindh Workers Welfare Fund is not applicable on Mutual Funds and Voluntary Pension Schemes, accordingly the Mutual Funds Association of Pakistan (MUFAP) in its meeting held on August 13, 2021 has decided to reverse the full provision against Sindh Worker’s Welfare Fund (SWWF) held in the Collective Investment Schemes (CIS’s) and Voluntary Pension Schemes (VPS).
NBP Fund Management Limited (NBP Funds) is one of the leading Asset Management Company (AMC) of Pakistan, managing over 15,600 Crores of investors’ savings in various investment solutions. The main sponsors of the company are National Bank of Pakistan (NBP) and Baltoro Growth Fund.
The company has been awarded the highest achievable investment management rating of AM1 (Very High Quality,) by PACRA. This rating is based on the company’s professional management team, the sound quality of systems and processes, sponsors’ strength and performance of funds under management.