The Karachi Stock Exchange (Guarantee) Limited’s disclosure of conversion or cancellation or winding up of closed end fund as per NBFC and Notified Entities Regulations (NBFCs NE) 2008

Karachi: We have been advised by the Securities and Exchange Commission of Pakistan (“the Commission”) to disclose the status of closed end funds under our management on which Regulation 65 of the Non Banking Finance Companies and Notified Entities Regulations 2008 (“NBFC and NE Regulations, 2008″) applies. The disclosure is to be made at the Stock Exchange on which the Fund is listed and on our website.

Regulation 65 requires that an Asset Management Company (“AMC”) managing closed end fund upon expiry of every five years from 21st November 2007 or the date of launch of the fund whichever is later, hold within one month of such period a meeting of the certificate holders to seek their approval to convert thy Closed End Schedule into an Open End Scheme or revoke it, subject to fulfillment of requirements given in the said Regulation.

In accordance with the above directive of the Commission, this is to inform that the Regulation 65 will be applicable on our Meezan Balanced Fund (“MBF”) (A closed end collective investment scheme) in current year as it will be completing five years period provided in Regulation on November 21, 2012. Accordingly, Al Meezan investment Management Limited, the management company of MBF will hold the meeting of’ the certificate holders to seek their consent and shall fulfill other statutory requirements in light of the decision of the certificate holders.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136

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