SECP: (SECP releases five-year comparative performance of private pension funds)
ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has released five-year comparative performance of private pension funds.
Private pension funds were introduced in 2007 under the Voluntary Pension System Rules, 2005. At present, there are 19 pension funds, out of which 10 are Shariah compliant and 9 are conventional.
These funds are managed by10 experienced pension fund managers. The pension funds provide participants with options to invest in securities and commodities. SECP said participants can choose allocation policies suiting their risk and return preferences.
The total net assets of the voluntary pension fund industry are currently over Rs 26 billion contributed by more than 25,000 participants. The fund managers, depending on the asset class, charge fees ranging from 0.5 percent to 1.5 percent per annum.