Trustee will convene a gathering for SEML Lecture Equity Fund unit holders to discuss its maturity
The SEML Lecture Equity Management Fund, a popular investment option on the Dhaka Stock Exchange (DSE), has seen some significant changes and upcoming events.
On 18 September, the unit price of the fund experienced a minor decline, dropping by 1.35% to Tk7.30. This decrease comes after a period of fluctuating prices.
In terms of financial performance, the fund managed to minimize expenses and achieve a profit of Tk2.14 crore in the 2024-25 fiscal year. This was despite incurring a loss of Tk3.49 crore in the previous year. The fund's income for the same period was Tk3.02 crore.
However, the loss per unit for the 2024 fiscal year was Tk0.70, resulting in a negative retained earnings of Tk1.31 crore at the end of the 2024-25 fiscal year.
The trading suspension of the SEML Lecture Equity Management Fund has been scheduled for 22 October, which will also serve as the record date for creating the list of unit holders eligible to attend the upcoming meeting.
The Bangladesh General Insurance Company (BGIC) has scheduled a unitholders' meeting for the fund on 30 October at the RAOWA Convention Hall. The purpose of the meeting is to discuss and vote on the option of converting the fund to an open-end fund upon maturity.
It's important to note that the current tenure of the SEML Lecture Equity Management Fund is due to mature on 25 December 2025. The initial fund size was Tk50 crore.
Interestingly, the trusteeship of another fund, Vanguard AML BD Finance Mutual Fund One, is held by Bangladesh General Insurance Company Limited. This fund's tenure is also due to mature on 23 December 2025, and its trustee has scheduled a unitholders' meeting on 29 October. The purpose of this meeting is similar, to discuss and vote on the option of converting the fund to an open-end fund upon maturity.
In a surprising turn, SEML Lecture Equity Management Fund declared no dividend for its unitholders for the FY25.
The sponsor of the SEML Lecture Equity Management Fund is Lecture Publication Limited.
These developments and upcoming events in the SEML Lecture Equity Management Fund provide valuable insights for investors and stakeholders. It's recommended to stay informed and make decisions based on thorough research and understanding of the market conditions.
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