UBL Fund, KSE to launch new index

KARACHI: The Karachi Stock Exchange (KSE) and UBL Fund Managers Limited (UBL Funds) signed a Memorandum of Understanding (MoU) to launch Pakistan’s first co-branded bond market index ‘KSE UBL Funds Government Bond Index’.
The MoU was signed at a ceremony held at the KSE premises on Tuesday by KSE MD Nadeem Naqvi and UBL Funds CEO Mir Muhammad Ali. According to the MoU, UBL Funds would provide its bond index expertise by defining the methodology, structure and guidelines, whereas KSE would provide maintenance and dissemination support for the index.
Bond market index shall comprise of all the government issued sovereign bonds. Therefore, the KSE UBL Funds Bond Market Index will provide investors a suitable benchmark for performance on their bonds investments. In addition, it shall help create awareness, amongst investors, about government bonds as an investment avenue.