INVESTMENTS OUTSIDE PAKISTAN Sample Clauses

INVESTMENTS OUTSIDE PAKISTAN. The Investments outside Pakistan shall be subject to prior approval from the Commission and the SBP. Any such proposal by the Management Company shall be submitted to the Commission and SBP with the prior consent of the Trustee. While opening and operating any type of account and/or making investments in offshore countries on the instructions of Management Company, if the Trustee is required to provide any indemnities to offshore parties (on the instruction of the Management Company) then Trustee and the Fund would be counter indemnified by the Management Company to such extent. These investments will enable the Fund to diversify the risk as well as avail opportunities for higher returns in markets that are undervalued. Such Investments may be made up to 30% of net assets of the Fund and are subject to a cap of US$ 15 million unless some other ceiling is imposed by the SBP and/or SECP.”
Sample 1
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INVESTMENTS OUTSIDE PAKISTAN. 8.1 The Investments outside Pakistan shall be subject to prior approval from the Commission and SBP. Any such proposal by the Management Company shall be submitted to the Commission and SBP with the prior consent of the Trustee. While opening and operating any type of account and/or making investments in offshore countries on the instructions of Management Company, if the Trustee is required to provide any indemnities to offshore parties then Trustee and the Fund would be counter indemnified by the Management Company to such extent. These investments will enable the Fund to diversify the risk as well as avail opportunities for higher returns in markets that are undervalued. Such Investments may be made up to 30% of net assets of the Fund and are subject to a cap of US$ 15 million unless some other ceiling is imposed by the SBP and/or SECP. 8.2 In case the limit to international investment is exceeded, the Management Company shall regularize the excess within three months of breach of the limit. 8.3 The Fund Property can be invested in international investments including the following: a. International money market instruments; b. Foreign currency bank deposits & certificates of investment; c. Foreign currency bank accounts in Pakistan; 8.4 While investing internationally, Fund Property will not be placed in any investment that has the effect of unlimited liability to the Fund. 8.5 In making investments outside Pakistan, the currency of the investment shall be convertible currencies like the US Dollar, Pound Sterling, Euro and Japanese Yen or any other currency. This condition however will be relaxed in those cases where the Fund Manager feels that there exists cost effective conversion mechanism to convert foreign currency in Pakistani currency or any other convertible currency. Provided however the Base currency of the Fund shall always be considered as Pak Rupee. 8.6 Arrangements for international custody of securities where required will be made with reputable institutions and procedures will be agreed upon by the Trustee. The Management Company will make best efforts to minimize costs affiliated with international transactions so that the savings can be passed on to the unit holders.
Sample 1
INVESTMENTS OUTSIDE PAKISTAN. ‌ 7.1 The Investments outside Pakistan shall be subject to prior approval from the Commission and SBP. These investments will enable the Fund to diversify the risk as well as avail opportunities for higher returns in markets that are undervalued. Such Investments may be made up to 30% of net assets of the Fund and are subject to a cap of US$ 15 million unless some other ceiling is imposed by the SBP and/or SECP. 7.2 In case the limit to international investment is exceeded, the Management Company shall regularize the excess within three months of breach of the limit. 7.3 The Fund Property can be invested in international investments including the following: a. International profit bearing securities; b. International money market instruments; c. Foreign currency bank deposits & certificates of investment; d. Foreign currency bank accounts in Pakistan; e. Mutual funds; 7.4 While investing internationally, Fund Property will not be placed in any investment that has the effect of unlimited liability to the Fund. 7.5 In making investments outside Pakistan, the currency of the investment shall be convertible currencies like the US Dollar, Pound Sterling, Euro and Japanese Yen or any other currency. This condition however will be relaxed in those cases where the Fund Manager feels that there exists cost effective conversion mechanism to convert foreign currency in Pakistani currency or any other convertible currency. Provided however the Base currency of the Fund shall always be considered as Pak Rupee. 7.6 Arrangements for international custody of securities where required will be made with reputable institutions and procedures will be agreed upon by the Trustee. The Management Company will make best efforts to minimize costs affiliated with international transactions so that the savings can be passed on to the unit holders.
Sample 1
INVESTMENTS OUTSIDE PAKISTAN will enable the Fund to diversify the risk as well as avail opportunities for higher returns in markets that are
Sample 1

Related to INVESTMENTS OUTSIDE PAKISTAN

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