SUMMARY

MBL1STMF is a closed end mutual fund with a tenor of ten years. Since inception the fund achieved 45.36% cumulative return and disbursed BDT 210 million as cash dividend. As of September 14, 2017, Net asset value of MBL1STMF is BDT 1,195 million (USD 15.32 million) as of market price basis.

Sponsor/History


MERCANTILE Bank limited (MBL)

Trustee


Bangladesh General Insurance Company Limited (BGIC)

Custodian


Standard Chartered Bank (SCB)

Assets under Management


BDT 1.20 billion (at Market Value)*

Inception Date


February 3, 2011

Number of Holdings


22

*Figure as of September 14, 2017.

PERFORMANCE

Fund Performance


Index1-Month3-Month6-MonthYTD1-Year3-Year5-YearSince InceptionAlpha against Benchmark
MBL1STMF4.50%9.20%10.40%18.00%21.90%13.50%10.10%5.90%4.20%
Benchmark5.80%10.80%8.50%23.20%34.80%10.70%9.00%-1.70%
*All figures as of September 14, 2017

*All returns which represent more than one year returns are annualized.

12-MONTH DIVIDEND YIELD


Dividend Yield:
12-month dividend yield was 8.79% as of Sep 14, 2017

Dividend Frequency:
Annual

Performance Since Inception 


PORTFOLIO

Portfolio Holdings


SLEquityValue as of 29th Jun, 2017 (BDT)
1SQURPHARMA120,834,193
2GP120,554,809
3CITYBANK84,150,000
4BATBC67,903,200
5BATASHOE56,565,000
6RENATA55,945,785
7HEIDELBCEM53,880,000
8BXPHARMA35,451,942
9EBL35,201,915
10KPCL28,776,291
* 60% of total assets are invested in our top 10 equities.

Portfolio Allocation


DIVIDEND GAINS

Latest Dividends Paid


 201320152016
MBL1STMF (BDT)0.310.8
*Since inception the fund has disbursed BDT 2.1 per unit as dividend.

PSI Regarding Dividend


FEES & EXPENSES

Fee Schedule

The standard management fee schedule:

Management Fee: The asset management company of the Fund has to pay an annual management fee on weekly average net asset value (NAV) as per Rule 65 of Bangladesh Securities and Exchange Commission (Mutual Fund) Rules, 2001 and as per Trust Deed at the following rates:

DetailsFee
On weekly average NAV up to BDT 50 million2.5%
On next BDT 200 million of weekly average NAV2.0%
On next BDT 250 million of weekly average NAV1.5%
On rest of weekly average NAV 0.9%

Trustee Fee: The trustee of the fund is entitled to get an annual trusteeship fee @ 0.10% of the net asset value per annum, payable semi-annually in advance basis during the entire life of the Fund as per Trust Deed.Brokerage Commission: The funds pay brokerage commission to the panel broker as per their confirmed rate after the trade execution. Currently brokerage commission rate is @ 0.25% on trade value for all types of trade (i.e. Public, Block & Spot).  

BSEC Fee: The Fund has to pay @ 0.10% of the NAV per annum as annual fees to BSEC in terms of BSEC (Mutual Fund) Rules, 2001.

Custody Fee: The custodian of the fund is entitled to receive a safekeeping fee @ 0.05% on the balance of securities calculated on average month end value per annum, and trade settlement fees of BDT 500 per trade as per Trust Deed.

CDBL Fee: CDBL charges are paid to Central Depository Bangladesh Limited (CDBL) as per Annexure A-1 of CDBL Bylaws (3.7).

DSE & CSE Fee: The Fund has to pay to Dhaka Stock Exchange (DSE) & Chittagong Stock Exchange (CSE) annual fee as per Rules 42 (3) of listing regulations 2015 at the following rates:

RangeRates
Up to BDT 1000 million of Paid up Capital0.05% of NAV
Above BDT 1000 million of Paid up Capital0.02% of NAV

Audit Fee: The Fund has to pay annual Audit Fee to the auditor as mentioned in the Auditors’ appointment letter issued by The Trustee (BGIC).

DISCLOSURES

Prospectus Documents
Financial Statements
Portfolio Statements