Open-end mutual funds: Number of active investor accounts stands at 339,126 till October 1: SECP

ISLAMABAD: The number of active investor accounts (accounts having more than zero balance) with the open-end mutual funds stood at 339,126 against 329,263 investors accounts having "zero-balance" as on October 1, 2020, the Securities and Exchange Commission of Pakistan (SECP) said Tuesday.

According to the summary of non-banking finance companies (NBFC) sector issued by the SECP here on Tuesday, the total number of investor accounts (including accounts with zero and more than zero balance) as at September 30, 2020, is 668,389.

The said shows the number of investor accounts in open end mutual funds only. The number of investors' accounts is different from the number of investors in mutual fund industry i.e. if investor "A" has opened three accounts with three different asset management companies, the same shall be reported as three investor accounts instead of one investor.

The total assets of the NBFI industry stood at Rs1,537.17 billion as on October 1, 2020. The direction no 12 of 2017 dated April 27, 2017 requires assets management companies (AMCs) to exclude the amount invested by fund of fund schemes in underlying funds managed by the same AMC, while publishing the amount of assets under its management in advertisements.

Accordingly, if the amount invested by fund of fund schemes in underlying funds of the same AMC (which is Rs19,286 million) is deducted from AUMs of the industry, the total assets under management of the industry amounted to the tune of Rs874,511 million, as of September 30, 2020.

Two NBFCs (which hold licenses for Asset Management and Investment Advisory Services) have also been authorised to act as Private Equity Company. The companies' assets are included in the assets of AMCs/IAs, the SECP added.

Copyright Business Recorder, 2020