Safeway Mutual Fund Limited’s conversion of Safeway Mutual Fund Limited into an open end scheme in terms of regulation 65 of the NBFC and NE regulation, 2008

Karachi, July 01, 2013 (PPI-OT): This is with reference to our letter dated January 31, 2013 regarding the decision of the shareholders to convert the Company from a Closed End Fund (Investment Company) to an Open End Scheme. In this regard, we are writing to inform you that SECP has not as yet given us the requisite license to launch and manage an Open End Scheme and some other Formalities are also required to be completed in this regard. Therefore the Company cannot be converted into an Open End Scheme.

We shall update you and the shareholders as soon as the required approval is received. You may please inform the members of the Exchange accordingly.

For more information, contact:
Tehmeena Khan
Company Secretary
SafeWay Mutual Fund Limited
D.41, Block 9, Scheme V,
Clifton, Karachi, Pakistan
Tel: (021) 3586923-35
Fax: (021) 35869236
E-mail: info@safewayfund.com

Leave a Reply