Karachi: United Bank Limited (UBL) has announced that the UBL Pakistan Enterprise Index (UPP9) will undergo a re-constitution of its portfolio, effective from Tuesday, November 4, 2025. This action is in compliance with Section 96 of the Securities Act, 2015, Clause 5.6.1(a) of the Pakistan Stock Exchange (PSX) regulation, and the Offering Document of the UBL Pakistan Enterprise Exchange Traded Fund (UBLP-ETF).

The re-constitution process will involve adjustments to the portfolio of the UBLP-ETF, should it be deemed necessary. During this period, the indicative Net Asset Value (iNAV) will continue to be disseminated; however, it will be based on the previous basket and will not accurately represent the current underlying basket. As a result, stakeholders are advised to consider this distinction in their evaluations.

According to information available from the Pakistan Stock Exchange (PSX), the changes are part of a standard procedure to ensure the alignment of the fund's portfolio with the latest market conditions and regulatory requirements. This process is expected to impact the trading and valuation of the fund temporarily.

Stakeholders, including the TRE Certificate Holders of the Exchange, are encouraged to stay informed about the developments and implications of the re-constitution on their investments and trading activities.