Yes, any individual / company wishing to distribute AGIML‘s products must be authorized first from MUFAP.
You should first obtain and review the criteria for authorization available on the MUFAP “Registered Service Provider” page. Then, fill out the assessment questionnaire for individual distributors and corporate employees (of institutional distributors) and submit it to the MUFAP with prescribed processing fee. Individual/Institutional will be notified in writing when their authorization is final MUFAP will allocate the registration number.
It depends on several factors, including how complete your application is./p>
Registered services provider of MUFAP (for first time application and annual renewals – The above Fees can be paid through crossed cheque or Pay Order in favour of “Mutual Funds Association of Pakistan”)
Authorizations are typically effective for one year at which time they may be renewed annually
Any one of these can be a distributor of Alfalah GHP Funds:
All of the above must fulfill the criteria as mentioned by SECP for the appointment of distributor otherwise they cannot become distributor of AGIML
1- The Registered Service Providers will not share commission/management fee in any form with their clients (unit holders of CIS) including through temptation of rebates/ gifts, kick backs with clients or any Related Party(s) etc.
2- The Registered Service Providers shall not be entitled to receive any management fee sharing or any other compensation on its own investments in any CIS.
3- The Registered Service Providers shall not be entitled to receive any management fee sharing or any other compensation, in case of category of clients that are stated in Restricted List which is listed below. This List shall be updated from time to time by MUFAP with the approval of its Board of Directors.
b) Development Finance Institutions (DFIs); and
c) Related Party(s) of Registered Service Providers
Due Diligence form to be filled for appointment as a distributor of AGIML
Due Diligence from – Investment facilitator
Due Diligence from – Corporate
Management Company will sign a management fee & sales load sharing agreement / understanding separately with each facilitator.
The agreement will be for One Year period, which shall be renewable for further one year with mutual consultation of both facilitator and AGIML.
The management company will retain a right to cancel the agreement with 30 days prior notice, in which case this Agreement will terminate at the end of such notice period. AGIML will discontinue making payment of any fee at the end of notice period
The Facilitator may terminate the Agreement on 30 days written termination notice to AGIM, in which case this Agreement will terminate at the end of such notice period. AGIML will discontinue making payment of any fee at the end of notice period