PICIC Growth Fund (PGF) is a closed end scheme and its principal business is to invest in listed equity securities with an objective to generate capital growth. The Fund is managed in accordance with the provisions of The Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (NBFC Rules, 2003) and the certificates of the Fund are listed on all Stock Exchanges of Pakistan viz: Karachi, Lahore and Islamabad.

PICIC Limited acquired the rights to manage the affairs of ICP State Enterprises Mutual Fund (SEMF) on May 03, 2003 from Investment Corporation of Pakistan through Privatization Commission in accordance with the Management Right Transfer Agreement, thereafter the management rights of ICP - SEMF were transferred from PICIC Limited to PICIC Asset Management Company Limited on June 28, 2004.

ICP-SEMF was a closed end mutual fund operating under the ICP Ordinance 1966, subsequently reorganized and renamed as PICIC Growth Fund into a closed end scheme effective from July 30, 2004 in accordance with the provision of the NBFC Rules, 2003.

9,997,584 shares of Pakistan State Oil Company Limited and 8,581,166 shares of Sui Northern Gas Pipelines Limited are frozen/blocked by an order of the Government of Pakistan as the same form part of a strategic shareholding under the control of the Government of Pakistan.

During FY-2006 5,380,000 shares of National Refinery Limited earlier frozen/blocked were derecognized being part of the privatization by the Government of Pakistan.


To be the top performer of the Mutual Fund Industry through wealth maximization of the certificate holders by investing in the best available opportunities with emphasis on Growth, while considering risk parameters and applicable rules.


To provide investors lucrative investment opportunities through an investment mix of blue chip shares having the potential of offering healthy dividends and growth opportunity.

Fact Sheet
Fund Name PICIC Growth Fund
Fund Type Equity Fund (Closed End)
1 Year Perf. Ranking
MFR 1-Star
Asset Manager PICIC Asset Management Company Limited
Financial Year End June 30
Par Value PKR 10
Management Fee 2%
Pricing Daily via newspapers and website
Trustee Central Depositary Company of Pakistan Limited
Auditors BDO Ebrahim & Co.
Registrar THK Associates (Pvt.) Limited
Regulator Securities & Exchange Commission of Pakistan (SECP)


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