JS Investments Limited Initiates Rebalancing of JS Momentum Factor Exchange Traded Fund (JSMFETF) Following Index Rebalancing

Karachi, JS Investments Limited has announced the initiation of the rebalancing process for the JS Momentum Factor Exchange Traded Fund (JSMFETF) in accordance with the recent rebalancing of the JS Momentum Factor Index. The rebalancing became effective on July 7, 2023, and marks an important step in maintaining the fund’s adherence to regulatory requirements and investment objectives.

As per Section 96 of the Securities Act, 2015, Clause 5.6. (a) of PSX Regulations, and the Offering Document of JSMFETF, JS Investments Limited is obligated to rebalance the portfolio of the fund following any changes to the underlying JS Momentum Factor Index. The rebalancing process will ensure that the fund’s portfolio accurately represents the revised index composition.

During the rebalancing period, the indicative net asset value (iNAV) of JSMFETF will continue to be disseminated based on the previous basket of securities. However, it is important to note that the iNAV will not be a true representation of the underlying basket until the portfolio is fully rebalanced. JS Investments Limited will notify the exchange once the rebalancing process is complete.

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