AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: In a recent development within Pakistan’s financial markets, the JS Momentum Factor Exchange Traded Fund (JSMFETF) has temporarily halted trading due to a delay in its scheduled rebalancing activity, originally set to conclude today.
In a notification circulated among investors, the management of JSMFETF cited technical difficulties as the reason for the incomplete rebalancing of the fund’s portfolio. This issue has pushed the continuation of the rebalancing process, which is now expected to be completed by the end of the day. The fund’s indicative net asset value (iNAV) will remain based on the previous basket until the rebalancing is officially concluded and reported to the Pakistan Stock Exchange (PSX).
According to information available from the Pakistan Stock Exchange (PSX), the temporary suspension of trading was deemed necessary to maintain market integrity and protect investor interests. The trading of JSMFETF units will remain suspended throughout today and is scheduled to resume on Monday, July 9, 2024.
This action is in line with regulatory requirements under Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations. These guidelines ensure that any changes to the fund’s portfolio are communicated effectively to all stakeholders, including certificate holders of the exchange, to ensure transparency and compliance with the legal framework.
Investors and other market participants have been advised to stay informed about further announcements regarding the resumption of trading and the updated status of the JSMFETF’s portfolio.