How to Redeem a Mutual Fund in Pakistan: Cut-Off Times, Loads and Payout Days at NBP, UBL and HBL (2026 List)

We read the October 2026 fund manager reports of NBP Funds, UBL Funds and HBL Asset Management on 11 November 2026. Each fund's page lists its dealing days, cut-off time, pricing method and loads. This guide collects them so you know exactly when to place a request and what it costs. Check your own fund's page too, because the terms differ from fund to fund even at the same company.

How to redeem your mutual fund units, step by step

Redeeming means selling your units back to the fund at its redemption price. You place the request with the fund manager, the fund prices it after the cut-off, and the money is paid to the bank account on your fund account.

1. Log in to the fund manager's app or online account, or download its redemption form. NBP Funds, for example, publishes a Redemption Form on nbpfunds.com.
2. Choose the fund and enter the amount or the number of units you want to sell.
3. Submit before the fund's cut-off time on a dealing day, Monday to Friday. A request after the cut-off is treated as the next dealing day's.
4. Note the price your request will get. Under backward pricing, it is the price already announced. Under forward pricing, it is the price set at the end of that dealing day.
5. Wait for the payment. NBP's reports list settlement of 2 to 3 business days. Ask UBL or HBL for their exact timing for your fund.
6. Check the credit in your bank account and keep the confirmation the fund manager sends.

If your request is delayed or wrongly priced, the NBP reports point to the company's investor relations page first and then to the Securities and Exchange Commission's Service Desk Management System at sdms.secp.gov.pk.

Cut-off times for money market funds at NBP, UBL and HBL

UBL's money market funds take requests until 3:00 pm, or 4:00 pm on Friday. HBL Money Market Fund and HBL Cash Fund list a cut-off of 9:00 am to 4:00 pm. NBP Money Market Fund deals from 9:00 am to 5:30 pm, but NBP Islamic Money Market Fund only until 2:30 pm.

UBL Liquidity Plus Fund is the only fund in our list that names a same day redemption window: requests by 9:30 am. If you need cash quickly, ask your fund manager whether your fund offers this.

Cut-off times for stock and income funds are earlier

Stock funds close earlier in the day. HBL's equity funds list a cut-off of 9:00 am to 2:00 pm from Monday to Thursday and 9:00 am to 3:00 pm on Friday. NBP Islamic Stock Fund deals from 9:00 am to 3:00 pm Monday to Thursday and until 4:00 pm on Friday.

Forward pricing matters most for stock funds. You do not know your exact price when you press redeem, because it is set at the end of the day after the market closes. On a day when the KSE-100 falls 2%, a stock fund redemption placed in the morning can pay about 2% less than you expected.

Loads you may pay when you buy or sell a fund

None of the money market funds in our tables lists a back-end load, the charge on selling. Front-end loads, charged when you buy, vary: none at UBL Cash Fund, up to 1% at UBL Money Market Fund and HBL Money Market Fund, and up to 3% at NBP's money market funds for individuals taking the takaful cover.

Every report also carries the same warning: a sales load "of up to 3.00% or 1.5%, as applicable, may be charged on investment and/or redemption of funds at the discretion of the Management Company". So read your own account form, and ask in writing if you are unsure. On Rs 5 lakh, a 1% load is Rs 5,000, which is more than a month's profit at today's rates.

Tax and timing to think about before you redeem

Profit on mutual funds is taxed, and the rate depends on whether you are a filer. The fund reports simply state that taxes apply. Ask the fund manager for your tax certificate after you redeem, because you may need it for your return.

Timing also matters. Money market fund prices rise a little every day, so a few days' delay costs very little. A stock fund can move several percent in a day. If you are cashing out a stock fund, decide the amount first, then redeem early in the dealing window so you are not caught by a missed cut-off. For tax on shares bought directly, see our guide to capital gains tax on shares, and for checking a fund's daily price, our MUFAP NAV guide.

If you are deciding where the money should go next, compare today's rates first. Most bank savings accounts pay 10.50% from 1 November, as our bank savings rate report shows, and National Savings certificates pay 11.12% to 12.96%, listed in our National Savings rates page.

Common questions

How many days does it take to get money from a mutual fund in Pakistan?

NBP Funds' reports list settlement of 2 to 3 business days. UBL Liquidity Plus Fund offers same day redemption for requests by 9:30 am. Confirm the timing for your own fund.

What is the cut-off time for UBL Cash Fund?

3:00 pm Monday to Thursday and 4:00 pm on Friday, with backward pricing, according to UBL Funds' October 2026 report.

What is the cut-off time for HBL Money Market Fund?

9:00 am to 4:00 pm, with backward pricing, according to HBL Asset Management's October 2026 report.

Is there a charge to redeem a money market fund?

None of the NBP, UBL and HBL money market funds we checked lists a back-end load. Each report says a load of up to 3% or 1.5% may be charged at the company's discretion.

What happens if I redeem after the cut-off time?

Your request is processed on the next dealing day and gets that day's price. Weekends and holidays are not dealing days.

What is the difference between forward and backward pricing?

Backward pricing uses the price already announced. Forward pricing uses the price worked out at the end of the day you place the request, so you do not know it in advance.

How we verified this

What we checked, where we read it, and what we could not confirm.

We read the fund information boxes in NBP Funds' October 2026 conventional report and Islamic report, UBL Funds' conventional and Islamic October 2026 reports, and HBL Asset Management's October 2026 report on 11 November 2026. Terms can change with each offering document, so check the latest report for your fund.