Mutual Funds Association of Pakistan (MUFAP) is the trade body for Pakistan's multi billion rupees asset management industry. The money our members manage is in a wide variety of investment vehicles including stocks, bonds, money market instruments, government securities and bank deposits. Our role is to ensure transparency, high ethical conduct and growth of the mutual fund industry.
ABLCF 10.07 ABLGSF-B 10.12 ABLIF 10.11 ABLIIF 10.09 ABLIPPF 11.45 ABLIPPF-D 106.07 ABLIPPF-E 135.55 ABLIPPF-II 11.46 ABLIPPF-MM 105.92 ABLISF 13.36 ABLPPF-D 119.5 ABLPPF-E 134.31 ABLPPF-MM 105.69 ABLSF 13.85 AGHPAF 69.23 AGHPCF 503.32 AGHPCPF 105.44 AGHPIF 106.2 AGHPIIF 100.89 AGHPIMF 51.02 AGHPISF 62.54 AGHPMMF 101.32 AGHPSF 122.51 AGHPVF 64.11 AGHSF 103.5 AKDCF 50.37 AKDGASSF 13.09 AKDIF 50.77 AKDITF 14.86 AKDOF 83.23 ASKARIAAF-B 52 ASKARIAAF-C 52 ASKARIEF 115.05 ASKARIHYS 103.14 ASKARIIAAF-B 107.6 ASKARIIAAF-C 107.6 ASKARIIIF-B 101.04 ASKARIIIF-C 101.04 ASKARISCF 101.44 ASKARISYE 102.68 ATLASGF 92.69 ATLASIF 513.9 ATLASIIF 504.08 ATLASISF 461.73 ATLASMMF 506.49 ATLASPF-D 205.51 ATLASPF-E 394.98 ATLASPF-G 95.99 ATLASPF-MM 199.33 ATLASPIF-D 178.52 ATLASPIF-E 515.91 ATLASPIF-MM 188.66 ATLASSLF 100.62 ATLASSMF 496.86 BMACRSF 8.22 BMAECF 10.34 FAYSALAAF 74.51 FAYSALBGF 67.45 FAYSALFSOF 101.04 FAYSALIGF 106.27 FAYSALISGF 102.38 FAYSALMMF 101.58 FAYSALSGF 102.74 FCMF 12.52 FCMF 12.52 FCMF-A 12.52 FHABIBCF 101.18 FHABIBIF 102.28 FHABIBSF 105.09 FHIBF 103.34 HBLIF 105.7 HBLIMMF 100.78 HBLIPF-D 127.58 HBLIPF-E 333.9 HBLIPF-MM 126.37 HBLISF 129.91 HBLMAF 97.16 HBLMMF 101.63 HBLMSF1 101.07 HBLPF-D 137.13 HBLPF-E 303.33 HBLPF-MM 130.1 HBLSF 105.42 JSAAA 15.55 JSCF 102.87 JSFOF 51.76 JSGF-A 164.69 JSIF 95.16 JSIGSF 100.58 JSIPSF-D 180.93 JSIPSF-E 558.4 JSIPSF-MM 160.12 JSISF 101.2 JSKSE-30IF 32 JSLCF 112.01 JSPSF-D 208.76 JSPSF-E 404.19 JSPSF-MM 171.08 JSUTP 152.42 JSVF-A 188.9 KASBAAF 49.23 KASBCF 110.64 KASBCROSBYDF 121.44 KASBIIOF 101.29 KASBIOF 73.82 KASBIOF-CBL 73.45 LAKSONAADMF 115.91 LAKSONAAEMF 110 LAKSONAAGCF 104.77 LAKSONEF 107.42 LAKSONIF 102.2 LAKSONMMF 100.71 MCBAHMCBCMOF 100.65 MCBAHMCBDIF 106.33 MCBAHMCBIIF 99.24 MCBAHMCBIIF 100.75 MCBAHPCF 50.42 MCBAHPCM 10.7 MCBAHPIEF 53.73 MCBAHPIEIF 61.86 MCBAHPIF 53.79 MCBAHPIPF-D 179.4 MCBAHPIPF-E 388.08 MCBAHPIPF-MM 164.68 MCBAHPPF-D 207.05 MCBAHPPF-E 389.47 MCBAHPPF-MM 193.79 MCBAHPSMF 108.99 MCBAHPSMF 85.5 MCBPAAF 78.08 MCBPISF 10.3 MCBPSF 53.49 MCPF-II 56.75 MCPF-III 60.66 MEEZANBF 15.07 MEEZANCF 50.31 MEEZANFPFF-A 72.11 MEEZANFPFF-M 66.17 MEEZANFPFF-MCPP-I 55.76 MEEZANFPFF-MCPP-II 51.32 MEEZANIF 61.31 MEEZANIIF-B 51.18 MEEZANIIF-C 51.18 MEEZANKMIF 73.27 MEEZANMF 16.89 MEEZANMFPFF-C 62.63 MEEZANSF 50.75 MEEZANTPF-D 196.55 MEEZANTPF-E 434.08 MEEZANTPF-MM 196.29 NAFAAAF 15.23 NAFAFSIF 10.54 NAFAGSLF 10.19 NAFAGSSF 10.38 NAFAIAAF 15.67 NAFAIF 9.8 NAFAIOF 10.81 NAFAIPF-D 115.77 NAFAIPF-E 216.67 NAFAIPF-MM 115.65 NAFAIPPF-I 121.49 NAFAIPPF-II 121.96 NAFAISF 11.28 NAFAMAF 15.67 NAFAMMF 9.89 NAFAPF-D 129.21 NAFAPF-E 218.38 NAFAPF-MM 117.76 NAFAPPF 103.77 NAFARFSF 10.22 NAFASF 13.19 NAFASPF 10.18 NAFIAIF 9.53 NAMCOBF 14.29 NAMCOIF 325.14 NIT-GBF 10.18 NIT-IF 10.51 NIT-NI(U)T 65.25 NITIEF 10.45 NITIPF-D 10.03 NITIPF-E 9.97 NITIPF-MM 10.03 NITPF-C 10.06 NITPF-D 10.06 NITPF-E 10.04 NITPF-MM 10.06 PCF 103.55 PICICCF-C 100.89 PICICCF-D 100.89 PICICEF 12.48 PICICGF 40.57 PICICIF 17.9 PICICIF 103.68 PICICIF 103.68 PICICIIF 100.88 PICICISF 123.65 PICICSF 131.56 POAAAF 52.68 POAIIF 51.85 POGSF 10.42 POIAAF 56.45 PRIMUSDRF 101.93 PRIMUSIEF 121.24 PRIMUSIMMF 100.85 PRIMUSSMAF 117.26 PRIMUSVEF 108.05 UBLAAF 119.19 UBLAAIAAP-I 101.29 UBLAIAAF 110.71 UBLAICF 100.7 UBLAIIF-G 98.11 UBLAIIF-I 98.11 UBLAIPPF-II 118.04 UBLAIPPF-III 111.97 UBLAIPPF-IV 108.28 UBLAIPPF-V 99.17 UBLAIRSF-D 147.88 UBLAIRSF-E 496.84 UBLAIRSF-MM 143.15 UBLAISF 101.18 UBLASSF 119.19 UBLFSBF 108.82 UBLGF 77.03 UBLGSF 108.27 UBLLPF-C 100.96 UBLMMF 100.79 UBLPPF-II 100.31 UBLPPF-III 116.5 UBLRSF-C 95.29 UBLRSF-D 178.12 UBLRSF-E 503.32 UBLRSF-MM 154.32 UBLUGIF-G 82.31 UBLUGIF-I 82.31 UBLUSAF 59.19

Board Of Directors

Mr. Mohammad Shoaib, CFA - Chairman

The board of directors of the Mutual Fund Association of Pakistan (MUFAP) has elected Mohammad Shoaib, CFA as Chairman of MUFAP from October 01, 2014.

Mr. Mohammad Shoaib, CFA is the Chief Executive of Al Meezan Investment Management Limited. He has played a key role in setting up the company and making it the largest asset management company in private sector in Pakistan. He has been associated with it since inception in 1995. He is a highly qualified and seasoned professional with 24 years experience in capital market of the country and knows the fund management business in Pakistan inside out. He has to his credit many accolades and awards, the most significant of them being the “Most Influential CFA charter holder” awarded by CFA Institute in 2006.

Mr. Shoaib holds MBA degree from IBA besides being a Chartered Financial Analyst (CFA) charter holder. He has to his credit being the founder and first president of CFA Association of Pakistan, a member society of CFA Institute. He has also had the honor to represent over 16,000 charter holders in Asia Pacific Region as their representative on the Presidents' Council of CFA Institute.

Mr. Shoaib has also served in voluntary capacity at different domestic and international institutions. He has served as a Director on the Board of Karachi Stock Exchange and Senior Vice Chairman on the Board of Mutual Funds Association of Pakistan last year. He is currently serving on the Board of Directors of Pakistan Institute of Corporate Governance and Institute of Capital Markets. He also sits on the Advisory Board of Institute of Business Administration. He has also served on various global and regional committees of CFA Institute including Asia Pacific Advocacy Committee, Global Task Force on Corporate Governance, GIPS Regional Council, GIPS Executive Committee and Asset Manager Code Advisory Committee.

Mr. Shahid Ghaffar - Senior Vice Chairman

Mr. Shahid Ghaffar has assumed the charge as Managing Director, National Investment Trust Limited (NITL) with effect from May 23 2014. He possesses vast experience of working at top positions in the financial sector. Prior to joining NIT, he was working as Head of Investor Relations and Corporate Representation as well as member of Management Forum at Habib Bank Limited (HBL). Prior to that he had also served as Chief Executive Officer of HBL Asset Management Limited for over six years (2005-2012) and was instrumental in the establishment and growth of the Company.

Mr. Ghaffar has held key positions in the areas of asset management, capital market regulation and governance. At Securities And Exchange Commission of Pakistan (SECP) he served as Executive Director/Commissioner from 2000 to 2005 and played a vital role towards implementation of wide ranging reforms in the Capital Market and capacity building of Securities Market Division in Securities And Exchange Commission of Pakistan (SECP). While working as Managing Director/CEO Karachi Stock Exchange during his two years' tenure (1998-2000) he introduced effective risk management measures and was also instrumental in the automation of trading, enhancing capacity building and professionalism at the Stock Exchange.

During the period 1977-1998, Mr. Shahid Ghaffar had served National Investment Trust Limited (NITL) (one of the biggest open- ended funds in the country) in different capacities in the Asset Management Division and at various stages was responsible for managing equity market portfolio, debt/fixed income portfolio and trading desk. He was also involved in the appraisal and monitoring of projects. In 1996,Mr.Ghaffarwas entrusted responsibility of Asset Management Division. He actively participated in the reconstruction of NIT during the crisis period i.e. 1996-1998.

Mr. Ghaffar holds Master Degree in Business Administration from Gomal University D.I.Khan, Khyber Pakhtunkhwa, Pakistan. He has attended several courses on Securities Regulations and Securities Markets Development and portfolio management including the prestigious course conducted by Securities and Exchange Commission, in Washington, DC. (United States).

Mr. Yasir Qadri- Vice Chairman

Mr. Qadri currently serves as the CEO MCB Arif Habib Savings. Before the merger of MCB Asset Management and Arif Habib Investments Limited, he served as CEO of MCB Asset Management Limited, a position he held for over three years. He also served as the Chief Operating Officer of MCB Asset Management Limited. Prior to MCB he was at Arif Habib Investments looking after Business Development and HR and sat on investment committees of both fixed income and equity funds. Mr. Qadri left Arif Habib Investments as Senior Executive Vice President after having spent about six years with the company. He spearheaded the transaction of merger between MCB Asset Management And Arif Habib Investments where two of the leading business groups of the country came together to merge their asset management wings.

Mr. Qadri also worked in marketing research and communication. He also managed a family business and has a total experience of 16 years. Mr. Qadri has served on the Board of Mutual Funds Association of Pakistan (MUFAP) and has also served as a member on Council of the Pakistan Advertisers Society (PAS). He has also actively served on various pan industry committees as member and Chairman. Mr. Qadri is also a regular speaker in seminars and conferences on industry issues. He has also been associated as visiting faculty for graduate and undergraduate classes with leading educational institutions of the country. Mr. Qadri earned his BBA and MBA degree from University of Central Oklahoma, where he also served on the Student Senate as a representative of foreign students.

Dr. Amjad Waheed, CFA - Director

Dr. Amjad Waheed holds a doctorate in Investments & Finance from Southern Illinois University, USA and is also a Chartered Financial Analyst. For the last 7 years he is CEO of NBP Fullerton Asset Management Ltd (NAFA), which is a subsidiary of National Bank of Pakistan, with Fullerton Fund Management Company of Singapore as the other joint venture partner. NAFA is presently managing fourteen mutual funds and several portfolios with about Rs 45 billion invested in these funds. NAFA is among the largest Asset Management Companies in Pakistan today.

Before joining NAFA, Dr. Amjad was Head of Equity Mutual Funds & Portfolios at Riyad Bank, Saudi Arabia, for about 5 years where he was managing US$ 7.5 billion invested in 22 mutual funds. Prior to that Dr. Amjad was Head of Investments at NIT, and Chief Operation Officer of FC-ABN AMRO Equities for several years. Before moving back to Pakistan, Dr. Waheed was Assistant Professor of Finance at Tennessee State University, USA and has published several articles in top journals of the world such as Journal of Banking & Finance and Financial and Financial Management.

Dr. Amjad has served on the Board of various companies including Siemens, Nishat Mills, PICIC, Askari Bank, Millat Tractors, Fauji Fertilizer, Pakitstan Tobacco Company, Treet Corporation, Gul Ahmed Textile, Bata Pakistan.

Mr. Babar Ali Lakhani - Director

Mr. Lakhani has over 13 years of investment and portfolio management experience in domestic and international equity and fixed income markets. Mr. Lakhani most recently served as the Chief Investment Officer of Century Insurance, a Public Limited Company listed on the Karachi and Lahore Stock Exchanges of Pakistan. He was an Investment Associate at High Street Advisors and a Research Analyst at Credit Suisse Equity Group (formerly Credit Suisse First Boston). Mr. Lakhani brings extensive investment experience, globally practiced portfolio management discipline, and a comprehensive understanding of the global asset management industry to Lakson Investments Limited.

Mr. Lakhani received his BA in Finance from Bentley College, and his MBA from Brandeis University.

Mr. Lakhani is a member of the Global Association of Risk Professionals (GARP), the Society of Financial Service Professionals and the Young Presidents' Organization (YPO). Mr. Lakhani is a member of the Alumni Trustee Committee of Brandeis University and is the school's representative in Pakistan.

Mr. Adnan Siddiqui - Director

Mr. Adnan spent more than two decades in the NBFC sector at senior positions and looked after both Treasury and Capital Market Operations. He brings with him a vast experience of asset management and has been instrumental in the development of Asset Management Sector since 2002.

Mr. Siddiqui is perhaps the only individual in the Asset Management Sector who has consistently created exceptional track record for companies he has worked for. Investors regard Mr. Siddiqui as a turnaround specialist in the industry. He is highly respected amongst stakeholders and holds investor loyalties through his consistent efforts, targeted towards maintaining consistent performance delivery in all market cycles. His last assignment was with Askari Investment Management Limited where he served as the Chief Executive Officer.

Mr. Siddiqui believes in imparting professional knowledge and expertise and has helped industry in developing several Fund Managers, CIOs and Business Development professionals, serving in both AMCs and Banking Sector. Mr. Siddiqui believes that AMC sector in its true spirit is for the people and it has all the ingredients to Improve lives of people living around us and helping the society to be more disciplined. To achieve the purpose, we need to educate Financial disciplines and channelize Savings towards Investing for collective prosperity. Mr. Siddiqui is a committed individual and is focused on working for the true spirit of Asset Management rather than working for Asset Gathering for company�s profits alone.

Mr. Enamullah Khan - Director

Mr. Enam Khan is the CEO of Faysal Asset Management. He brings with him 20 years of focused experience and technical proficiency in equity markets, fixed income markets, complex derivatives and commodity markets from across the globe. Prior to joining Faysal group, he served as a consultant with Nasdaq OMX, Stockholm, Managing Director - Cannon Bridge Corporation, London, Head of Pakistan Initiative - Cantor Fitzgerald, London and as Head of Sales and Trading Asia at Berkeley Futures Ltd, London.

In his previous assignment, Mr. Khan served as Head of Equity Capital Markets (ECM) at Faysal Bank, where he initiated Pakistan's first ever equity capital markets department within the banking sector backed by comprehensive research, risk and compliance functions. Furthermore, he is accredited with setting up Pakistan's first ever technical analysis desk.

Mr. Khan holds several FSA (Financial Services Authority) accreditations, obtained during his time in London which has aided his desire towards pioneering product development in the capital markets.

Mr. Farid Ahmed Khan, CFA - Director

Farid Ahmed Khan, CFA is the CEO of ABL Asset Management. He has been involved with capital markets for over 20 years and has a broad-based, global experience with bulge bracket firms in Fund Management, Investment Banking, Investment Research and Sales, Business Development & Project Finance. He joined ABL AMC from Credit Suisse, where he was the Country Manager of Credit Suisse Pakistan. Prior to that, he worked for MCB, initially as Head of Investment Banking Group and later as the CEO of MCB Asset Management. Farid has extensive experience outside Pakistan, having worked at Morgan Stanley, ING Barings Securities and CLSA Emerging Markets in Kuala Lumpur, London and Istanbul in a variety of senior positions. Farid also serves on the boards of NADRA Authority, CFA Association of Pakistan and MUFAP and is also a member of Corporate Leaders Advisory Board of IBA, Karachi.

He holds an MBA in Finance from Institute of Business Administration, Karachi and got his CFA qualification in 1998.

Mr. Imran Azim - Director

Mr. Imran Azim is MBA in finance and has more than two decades of experience in Mutual Fund Industry. He served NIT from 1977 to 1998 where he worked in almost all the departments including Investment, Marketing, Business Development and Accounts. After leaving NIT he joined Khalid Majid Hussain Rehman, a Chartered Accountants firm and later on joined Universal Insurance Company Limited. Prior to joining Habib Asset Management Limited he was Chief Executive of Haroon Oils Limited.

Mr. M. Habib-ur-Rahman - Director

Mr. M. Habib-ur-Rahman is a Fellow Chartered Accountant from the Institute of Chartered Accountants of England & Wales. He has attended a number management programs, including PMD from Harvard Business School, Economic Development Institute of the World Bank and the International Institute of Islamic Studies, Cairo. He played an instrumental role in setting up the first open-end mutual fund in the private sector in Pakistan and was the Chairman/ Chief Executive of then ABAMCO Limited (presently JS Investments Limited) till December 2003. He was a founding member of the Mutual Funds Association of Pakistan. He has served on the Board of the Karachi Stock Exchange in 2000, 2001, & 2003, as the nominee of Securities and Exchange Commission of Pakistan. He has also served as a member of the Commission's Advisory Group on Capital Markets and was on the Committee, formed by the Commission to enquire on the management of Exposure Rules by KSE/ LSE. He also served as Chairman of Mutual Funds Association of Pakistan during 2009-2010.

Mr. Mir Muhammad Ali, CFA - Director

Mir Muhammad Ali, CFA became the CEO of UBL Fund Managers in July 2005. He has extensive experience in investment banking and fund management during the last 20 years. Prior to joining UBL Fund Managers he was with Asian Development Bank. He represented ADB on the board of several companies. Before joining ADB, Mr. Ali worked as Head Investment Banking of United Bank Limited. He was instrumental in setting up of the Investment Banking Group (IBG) at UBL which obtained the best investment bank award for the year 2002-2003 from the CFA Association of Pakistan. Apart from doing a large number of debt and capital market transactions, his achievements included, setting up of UBL Fund Managers, which was the first Asset Management Company to be set up by any commercial bank in Pakistan, and execution of Pakistan's first listed asset backed securitization transaction. During his career, he has also worked for various institutions such as Pakistan Kuwait Investment Company, IBM World Trade Corporation and ANZ Grindlays Bank. Being CEO of UBL Fund Managers he has led the company to become one of the largest private sector asset management companies in Pakistan.

Mr. Ali is an MSc in Finance from University of Strathclyde in Glasgow, Scotland. He was awarded the prestigious Chevening Scholarship from the British Council for his MSc. He is an MBA from the Institute of Business Administration with a Gold Medal for an overall first position in 1988-89. He is also a CFA Charter Holder.

He is currently Vice President of CFA Pakistan. He also served as Vice Chairman of Mutual Funds Association of Pakistan during 2008-2009.

Ms. Mashmooma Zehra Majeed, CFA, FRM - Chief Executive Officer

Ms. Majeed completed her Chartered Financial Analyst (CFA) program in 2001 from the CFA Institute and the Financial Risk Manager (FRM) Program in 2010. She has been associated with the asset management industry in Pakistan for over ten years with her forte being in investment management and product development. She has played an instrumental role in launching the first Islamic open-end mutual fund in Pakistan as well as the launch of the voluntary pension scheme in Pakistan under the Voluntary Pension System Rules. She has been actively involved with MUFAP throughout her career. She has previously worked in senior positions in Atlas Asset Management Limited, JS Investments and Crosby Asset Management. She started her career with HMA.


MUFAP gratefully acknowledges Center for International Private Enterprise (CIPE) Business Support grant amongst others for investors protection and access to information.

MUFAP is an affiliate of the South Asian Federation of Exchanges (SAFE).

MUFAP is a member of International Investment Fund Managers Association (IIFA) and the Asia Oceania Regional Meeting (AORM).