60 MFs awaiting SEC nod to go public

A total of 60 mutual funds with an aggregate size of about Tk 60 billion are awaiting the regulator’s approval to go public, officials said.

An official of the Securities and Exchange Commission (SEC) said, “The size of the individual MFs ranges between Tk 500 million to Tk 5.0 billion.

Among the MFs awaiting the SEC nod, fourteen have got their registrations and after completing the subscriptions the funds will be listed on the bourses.

The funds which have completed their registrations are: LR Global Bangladesh MF one, EBL NRB MF, Sonali Bank Limited First MF, National Life Insurance First MF, SouthEast Bank First MF, First Agrani Bank MF, Rupali Life Insurance First MF, NCC Bank Limited MF-1, Prime Finance Second MF, Sandhani Life Growth Fund, Reliance Insurance MF, AIBL First MF and Mercantile Bank Limited First MF.

On the other hand, the remaining 46 MFs which are at different stages of completing formalities for final approval include: One Bank MF, ICB AMCL Social Responsible MF, ICB AMCL Growth MF, UCBL MF, Standard Bank MF, Northern General Insurance MF, Exim Bank MF, NCCBL NRB MF, BGIC MF, Prime Finance First NRB MF, AB Bank MF, Trust Bank First Client MF, Trust Bank First NRB MF, Prime Bank Second MF, Prime Bank Foundation MF, Phoenix Finance Second MF, GSP Capital MF, Fareast Islami MF, Meghna Life MF, IDLC MF, Padma Islami MF and Agrani Asia-Europe NRB MF.

Source: The financial express, 27 December, 2010

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