Units of NCCBL Mutual Fund 1st saw a price hike of 14.1% at Dhaka Stock Exchange yesterday – a day after disclosure of 10% cash dividend.
The price of each of the unit closed at Tk10.5 after ranging between Tk10.4 and Tk13, creating opportunity for some investors to take profit.
According to the disclosure, the fund units have a net asset value of Tk11.91 per share, which is still higher than the current market price.
During yesterday’s trading session, units worth Tk3.1 crore changed hands at the DSE.
The fund roughly represents 3% of the entire mutual fund industry that makes up only 1.64% of the total market capital.
The asset of the closed-end fund, managed by LR Global, has been allocated around 63% in public, 8% in private and the remaining 29% kept in the form of cash and others till January 30.
The fund’s asset allocation in the secondary market was mostly on large cap stocks (74%) while 25% on mid cap stocks and only one percent on small cap stocks, LR Global said in its fund fact sheet.
Top sector allocation was in Pharmaceuticals and Chemical with a weight of 9.1% while fuel and power sector being the second with a weight of 7.7%.
The fund is scheduled to be redeemed on 2022, the year when unit holders will be paid out the net asset value at redemption deducting a portion of the value as redemption cost.