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The Financial Express

BSEC forms body to probe unusual price hike of five MFs

| Updated: November 23, 2020 10:55:52


BSEC body to probe unusual price hike of five MFs

The securities regulator has formed a two-member body to probe into the unusual price hike observed recently in the units of five closed-end mutual funds (MFs).

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday formed the body and asked it to submit the inquiry report within 30 working days, according to BSEC officials.

The MFs whose trading and price hikes of units will come under inquiry are: CAPM-IBBL Islamic Mutual Fund, NCCBL Mutual Fund-1, Vanguard AML Rupali Bank Balanced Fund, SEML IBBL Shariah Fund and Prime Finance First Mutual Fund.

The BSEC officials said the prices of the units of these MFs rose by up to 50 per cent in last one month.

The BSEC committee led by Deputy Director Md Ohidul Islam will dig out irregularities in trading and price manipulation, if any, in the unit prices of the funds.

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