MFs rule weekly gainers' chart on DSE

FE Report

Mutual funds (MFs) dominated the top 10 gainers' chart on the Dhaka Stock Exchange (DSE) last week riding on the investors' increased participation in transactions.

The rise of the fund unit prices ranged between 18.56 per cent and 59.71 per cent.

The MFs are SEML FBLSL Growth Fund, SEML IBBL Shariah Fund, Phoenix Finance 1st Mutual Fund, ICB AMCL First Agrani Bank Mutual Fund, Prime Bank 1st ICB AMCL Mutual Fund, ICB Employees Provident Mutual Fund One: Scheme, SEML Lecture Equity Management Fund, ICB AMCL Second Mutual Fund, NCCBL Mutual Fund-1, and CAPM IBBL Islamic Mutual Fund.

Last week, the listed MFs witnessed the highest price appreciation of 14.40 per cent on the DSE.

The sector grabbed 11.70 per cent of the market turnover on the premier bourse of the country.

Of the funds, the market price of the SEML FBLSL Growth Fund rose 'abnormally' against its net asset value (NAV) per unit.

The fund's unit price soared from Tk 10 to Tk 44.4 per unit in the last 16 trading sessions, registering an increase of 344 per cent.

At the close of operation on July 18, 2019, the fund reported NAV of Tk. 10.63 per unit on the basis of current market price and Tk. 10.78 per unit on the basis of cost price against the face value of Tk. 10.00.

In response to a DSE query dated July 14, 2019, its fund manager said there was no undisclosed price sensitive information of the fund behind the recent unusual price hike and the increase in the volume of its units.

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