There are 21 mutual fund companies in Pakistan, known as asset management companies (AMCs). Together they managed about Rs 4.37 trillion at the end of June 2026, and the five largest held more than half of that. This page lists the main AMCs, shows how big each of the leaders is, and explains how to check and compare them before you invest.
Last updated: 31 October 2026 by Ahmed.
New to funds? Start with our guides on mutual funds in Pakistan and how to invest in mutual funds, check the tax on mutual fund returns, and compare a fund’s return with a bank deposit using the bank profit calculator or our best investment in Pakistan guide.
What Is an Asset Management Company?
An AMC is a company licensed by the SECP to launch and manage mutual funds, pension funds and other investment plans. It decides what each fund buys and sells. The fund’s money is held separately by a trustee, usually the Central Depository Company (CDC), so it stays safe even if the AMC itself runs into trouble. Most AMCs are members of the Mutual Funds Association of Pakistan (MUFAP), which publishes their daily NAVs and returns.
Largest Mutual Fund Companies in Pakistan by Assets (June 2026)
| Rank | AMC | Assets under management | Parent group |
|---|---|---|---|
| 1 | Al Meezan Investment Management | Rs 702.8 billion | Meezan Bank |
| 2 | NBP Funds (NBP Fund Management) | Rs 552.3 billion | National Bank of Pakistan |
| 3 | UBL Funds (UBL Fund Managers) | Rs 402.8 billion | United Bank Limited |
| 4 | MCB Investment Management | Rs 387.2 billion | MCB Bank |
| 5 | Alfalah Asset Management | Rs 341.6 billion | Bank Alfalah |
Other Mutual Fund Companies in Pakistan
These AMCs also manage funds for individual investors. Several are linked to a bank, which means you can often invest through that bank’s branches or app.
| AMC | Linked group | Known for |
|---|---|---|
| HBL Asset Management | HBL | Conventional and Islamic funds sold through HBL branches and app |
| ABL Asset Management | Allied Bank | Money market, income and equity funds |
| Faysal Asset Management | Faysal Bank | Conventional and Shariah-compliant funds; among the biggest monthly gainers in June 2026 |
| Al Habib Asset Management | Bank AL Habib | Money market and income funds |
| Atlas Asset Management | Atlas Group | Long-running equity, income and pension funds |
| National Investment Trust (NIT) | Government-owned | Pakistan’s oldest fund manager, with the NIT unit trust |
| JS Investments | JS Group | Equity and income funds |
| Pak-Qatar Asset Management | Pak-Qatar Group | Shariah-compliant funds |
| Lucky Investments | Lucky / Yunus Brothers Group | A newer AMC; among the monthly gainers in June 2026 |
| AKD Investment Management | AKD Group | Funds for individual and corporate investors |
Shariah-Compliant AMCs
Al Meezan is the largest AMC overall and runs only Shariah-compliant funds. Most other large AMCs, including NBP, UBL, MCB, Alfalah, HBL and Faysal, also offer Islamic money market, income and equity funds. Islamic funds as a group crossed Rs 2 trillion in assets for the first time in early 2026.
How to Compare Mutual Fund Companies in Pakistan
Size alone does not make an AMC the right choice. Compare the specific fund you want to buy, using these checks:
- Licence: confirm the AMC is licensed on the SECP website and listed by MUFAP.
- Fund returns vs peers: compare the same category (for example, all Islamic money market funds) over 1, 3 and 5 years on MUFAP.
- Total Expense Ratio: shown in each fund’s monthly Fund Manager Report. Lower is better when returns are similar.
- Ease of use: digital account opening, a working app, quick redemptions and clear statements.
- Ratings: credit rating agencies such as PACRA and VIS publish management quality ratings for AMCs and stability ratings for many funds.
Free Tools for Mutual Fund Investors
- MUFAP website: daily NAVs, returns by period and category, and links to each AMC.
- Fund Manager Reports (FMRs): monthly reports on each AMC’s website showing returns, holdings, expense ratio and risk level.
- Offering documents: the full rules of each fund, including loads and investment limits.
- SECP Jamapunji: the SECP’s investor education portal, with guides and warnings about fraud.
- AMC apps: most large AMCs let you track units, download tax certificates and redeem online.
Red Flags When Choosing Mutual Fund Companies in Pakistan
- Anyone promising a fixed or guaranteed return on an equity fund.
- Being asked to pay money into a personal bank account or to an agent rather than to the fund’s own account.
- A company that is not listed on the SECP or MUFAP websites.
- Pressure to invest quickly before an “offer closes”.
Frequently Asked Questions
Which is the biggest of the mutual fund companies in Pakistan?
Al Meezan Investment Management, with about Rs 702.8 billion in assets at the end of June 2026.
How many mutual fund companies are there in Pakistan?
Industry data for June 2026 covered 21 asset management companies.
Which AMC is best for Islamic investment?
Al Meezan focuses only on Shariah-compliant funds, and most large AMCs also offer Islamic funds. Compare the specific fund’s returns and costs within its category on MUFAP.
Is my money safe if an AMC closes?
Fund assets are held by an independent trustee, not by the AMC. If an AMC stops operating, the SECP and trustee arrange for the fund to be transferred or wound up and investors paid the NAV.
This guide is for general information only and is not financial or tax advice. Rates, returns and rules change often, so confirm the latest figures with the official source before you invest.
Related Guides
- Mutual funds in Pakistan: types, tax and costs
- How to invest in mutual funds in Pakistan
- ETFs in Pakistan
- Islamic banks in Pakistan