FE Report
Trading of the units of 1st ICB Mutual Fund (MF), whose tenure ended on Tuesday, did not take place Wednesday in absence of any regulatory decision on whether the trading will be continued or suspended.
The officials of Dhaka Stock Exchange (DSE) said trading of the fund will resume after getting instruction from the securities regulator.
They said on Wednesday the instrument of ICB 1st MF was available in the market but no trading was occurred as buy and sell orders did not match.
"We have talked to the securities regulator and they told us to keep the matter same as it is today (Wednesday). We have heard that the tenure of the closed-end MFs can be extended. Trading of the 1st ICB MF may be resumed after getting instruction from the regulatory body," said DSE managing director Dr. Swapan Kumar Bala.
Sources said the securities regulator may extend the timeframe of the closed-end MFs by more five years.
In 2008, the Bangladesh Securities and Exchange Commission (BSEC) instructed the Asset Management Companies (AMCs) to wind-up the closed-end MFs, whose tenure then crossed ten years, by December 31, 2010.
But the tenure of the closed-end MFs managed by ICB AMCL was increased by one year considering the market situation.
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DSE yet to get decision from BSEC on trading of 1st ICB Mutual Fund
FE Team | Published: April 02, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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