Rebalancing Process Begins for Mahaana Islamic Index ETF

Karachi: In compliance with section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulation, along with the Offering Document of the Mahaana Islamic Index Exchange Traded Fund (MIIETF), a significant update has been issued regarding the fund’s operations. The Mahaana Islamic Index has been officially rebalanced as of July 31, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the MIIETF is initiating the process of adjusting its portfolio starting today. During this transition period, the indicative net asset value (iNAV) will continue to reflect the previous basket’s valuation. This interim iNAV will not accurately represent the current underlying basket of assets. The completion of the rebalancing process will be formally communicated to the exchange, ensuring that all stakeholders, including the Certificate Holders of the Exchange, are duly informed.