The purpose of this study is to investigate the presence of herding behavior in Pakistan mutual fund industry. The data consists of daily net asset values from the period of 2013 to 2020. The data has obtained from Mutual Fund Association of Pakistan. Two approaches are being used in this study to identify herd formation. Christie and Huang (1995) identified a method known as cross sectional standard deviation CSSD and Chang, Cheng, and Khorana (2000) identified another approach known as cross sectional absolute deviation. The findings of this study reveal that in daily data of mutual fund there is no evidence for existence of herding behavior. Whereas monthly data confirms that herding behavior exists. This study presents an integrated model to test herd behavior in Pakistan mutual fund industry. Consideration of said behavioral effect in the decision-making process of investor will make the decision more efficient and optimal. Supervisor:- Dr. Ahmad Fraz