The conversion to open-ended fund is South East Bank Fund

Staff Reporter: Southeast Bank First Mutual Fund is being transformed from a close-ended fund to an open-ended fund. The trustee of the fund, VIPB Asset Management, has approved the conversion to an open-ended fund. According to the Dhaka Stock Exchange website on Monday (February 15).

Documentary taken from DSE website

According to the information, the transaction of the fund will be closed on May 16-17. The meeting of the unit holders will be held on May 25. The time and venue of the meeting will be announced later. At the same time, at least 75 percent unit holders must be present at the meeting. Otherwise the fund will be liquidated.

Southeast Bank First Mutual Fund was listed on the stock exchange on May 17, 2011. The size of the fund was 90 crore 60 lakh rupees. So far, it has distributed about Tk 69 crore as dividend. At present, the asset value of the fund is Tk.


Source: Daily StockBangladesh by www.dailystockbangladesh.com.

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