• PAK SEC released direction (of Jan. 1) on Requirements related to conduct of asset management companies (AMCs) representing unitholders of collective investment schemes (CIS) in listed companies' general meetings, about safeguarding proxy rights.

General Meeting Requirements

• AMCs are encouraged to attend all general meetings represented by their employees who have no affiliation with investee companies; mandatory attendance and voting where one or more CIS under their management hold at least 5% shareholding.
• Ensure attendance and voting for all matters categorized as special business.
• AMCs required to follow board-approved stewardship policy, document vote adherence.