CAPM BDBL Mutual Fund One declares no dividend
The decision came from the trustee meeting of the fund held at 3pm today (29 August)
Representational image. Photo: Collected
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Representational image. Photo: Collected
The Trustee Board of Capital & Asset Portfolio Management (CAPM) BDBL Mutual Fund One has declared no dividend for the year ended in June 2024.
The decision came from the trustee meeting of the fund held at 3pm today (29 August). The meeting also approved the audited financial statement of CAPM BDBL Mutual Fund One for the year, according to a press statement.
Net asset value (NAV) of the mutual fund stood at Tk54,99,31,724 based on the cost price, which fell to Tk44,15,73,631 based on the 30 June 2024 market price of the invested securities. The NAV per unit at cost price stood at Tk10.97, which was Tk8.81 at market price. Face value of the fund units is Tk10.
The fund incurred a net loss of Tk7,80,23,564 in the past fiscal year while net loss per unit stood at Tk1.56.
According to asset managers, 2023-24 was a bad year for mutual funds due to the market adversity fueled by prolonged floor price mechanism and sudden removal of the floor earlier this year that caused a free fall in the stock market in the first half.
Mutual funds usually invest in large cap shares having a stronger fundamental track record and most of them were stuck without buyers at overvalued price levels two years back due to the floor price.
The sudden removal of the downward price restriction caused a sharp capital erosion for the investors of the large cap stocks.
However, after the ouster of the Sheikh Hasina-led government, blue-chip and many other large cap stocks got their strengths back and entered in an upward price trend.
