The notion of institutional investors is prevalent now a day partly because of their growing stake in markets globally and partly because of their ability as a professional intermediary to influence investee companies. The ability of institutional investors to influence is not determined by their shareholding, but it is the matter of their ability and willingness to engage with investee companies. OECD framed seven features with nineteen choices that in different combinations form an institutional investor’s business model. By using this framework, this research paper is the primary attempt to develop taxonomy for ascertaining various degrees of ownership engagement among different categories of funds in Pakistan. Taking structured interviews from fund managers/portfolio managers as data collection method, this study establishes taxonomy in which different categories of funds show different degree of ownership engagement positioning between “no engagement” to “insider engagement”.