Dhaka, Bangladesh (BBN)-Trading of the units of CAPM BDBL Mutual Fund 1 will begin at Dhaka Stock Exchange and Chittagong Stock Exchange (CSE) on Thursday, officials said.
A mutual fund is a professionally managed collective investment scheme that pools money from many investors and invests it in stocks, bonds and short-term money market instruments.
The Bangladesh Securities and Exchange Commission (BSEC) approved the prospectus of the closed-end mutual fund on September 1, 2016.
The fund size is BDT 1.0 billion and the tenure of the fund is 10 years.
The face value of the units of the mutual fund is BDT 10 each.
Of the total BDT 1.0 billion, Bangladesh Development Bank contributed BDT 100 million as the sponsor of the mutual fund and BDT 200 million collected through pre-IPO placement while rest of BDT 700 million collected through initial public offering (IPO).
The fund has reported net asset value (NAV) of BDT 10.04 per unit on the basis of current market price and BDT 10.01 per unit on the basis of cost price against face value of BDT 10, on the close of operation on January 10, 2017.
The total net assets of the fund stood at BDT 503,407,724.53 on the basis of current market price and BDT 501,789,383.61 on the basis of cost price after considering all assets and liabilities of the fund.
Investment Corporation of Bangladesh (ICB) acted as trustee and custodian, while Capital and Asset Portfolio Management (CAPM) Company acted as asset manager of the fund.
Presently, there are 35 closed-end mutual funds listed on the Dhaka bourse.
BBN/SK/AD