BSEC probing abnormal price hike of 5 MFs

Staff Correspondent | Published: 22:34, Nov 17,2020


The Bangladesh Securities and Exchange Commission on Tuesday formed a committee to investigate the recent unusual hikes in unit prices of five mutual funds.

The regulator formed the two-member committee headed by its deputy director Ohidul Islam.

The committee was asked to submit its investigation report within 30 working days.

The five mutual funds are CAPM IBBL Islamic Mutual Fund, SEML IBBL Shariah Fund, Vanguard AML Rupali Bank Balance Fund, NCCBL Mutual Fund-1 and Prime Finance First Mutual Fund.

BSEC officials said that the unit prices of the mutual funds had been rising abnormally on the market in recent weeks.

The regulator would investigate whether any wrongdoers hiked the unit prices of the mutual funds for illicit gains, they said.

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