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Mutual funds see highest price appreciation in last week

FE Report | Published: July 07, 2019 11:33:51


Picture used for illustrative purpose

The listed mutual funds (MFs) saw the highest price appreciation in last week despite the turnover is yet to be significant compared to that of other sectors.

The sector comprising 37 closed-end MFs witnessed 9.30 per cent return in unit prices compared to the previous week, according to a weekly review of EBL Securities.

The prices of the units of many funds rose marginally in last week amid price corrections witnessed by other major sectors on the Dhaka Stock Exchange (DSE).

The DSE's weekly gainers chart was also dominated by the closed-end MFs. Of top 10 gainers of last week, six were MFs.

Prime Finance First Mutual Fund was the number one gainer with a rise of 42.62 per cent in last week. The fund featured a daily average turnover of Tk 28.28 million in four sessions.

The other MFs which were in weekly gainers chart are Phoenix Finance 1st Mutual Fund, CAPM IBBL Islamic Mutual Fund, CAPM BDBL Mutual Fund 01, PHP First Mutual Fund, and SEML IBBL Shariah Fund.

The prices of the units of these MFs posted price hike ranging from 14.08 per cent to 27.87 per cent in last week compared to closing prices of the previous week.

At the end of the week, the price of the units of all MFs closed marginally higher on the DSE.

However, the prices of majority number of MFs presently are being traded below face value of Tk 10 each.

In last week, the total turnover of MFs rose was 1.6 per cent compared to that of the previous week.

Finally, the market captialisation of closed-end MFs stood at above 36.82 billion on Thursday.

Of 37 listed MFs, the units of only seven funds presently are being traded above their face value of Tk 10 each.

The seven MFs are: Prime Finance First MF, Asian Tiger Sandhani Life Growth Fund, Grameen One : Scheme Two, NLI First MF, Reliance One, Southeast Bank 1st MF, and SEML FBLSL Growth Fund.

The trading of the units of these MFs closed at the prices ranging from Tk 10.40 to Tk 17.40 each on Thursday.

On the other hand, the prices of the units of 18 listed MFs closed below Tk 8.0 each on the closing session of last week.

Of other sectors, life insurance sector posted the second highest price appreciation of 8.20 per cent followed by paper & printing 4.80 per cent, IT 2.40 per cent, general insurance 1.0 per cent and textile 0.80 per cent.

Of the sectors which witnessed correction, bank declined 1.70 per cent, financial institutions 2.10 per cent, jute 4.60 per cent, telecommunication 1.80 per cent and tannery 0.90 per cent.

The premier bourse DSE featured a daily average turnover of above Tk 4.86 billion in last week.

Of 355 issues traded, 165 advanced, 166 declined and 23 were unchanged on the DSE.

mufazzal.fe@gmail.com

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