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The securities regulator has extended the tenure of the existing closed-end mutual funds (MFs) for another term of ten years.In this regard, the Bangladesh Securities and Exchange Commission (BSEC) has issued a directive scrapping its previous directive regarding conversion or liquidation of closed-end MFs on completion of tenure of ten years. According to BSEC directive, total tenure, including another term of ten years, of the existing closed-end MFs will not be more than twenty years.
“The existing closed-end MFs which are unwilling to extend tenure will be allowed to be converted or
liquidated as per the rules,” the BSEC directive said.

 

Read the full report here.

News Source : BSEC extends tenure for ten more years

BSEC Directive & Government Gazette: mutual_fund_related gazetted on 23-10-2018

Categories: Economy

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