July-September: 10 RACE mutual funds suffered loss of Tk49 crore
The net asset value of the funds at cost price was also higher than the net asset value at market price during the period
Ten closed-end mutual funds managed by RACE Management PCL suffered a loss of Tk49 crore in the first quarter of the current fiscal year.
The net asset value of the funds at cost price was also higher than the net asset value at market price during the period.
Analysts said that the 10 closed-end mutual funds declined because the Dhaka Stock Exchange's broad index, DSEX, lost 437 points during this period (July-September) and the market cap declined by Tk24,226 crore.
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However, other fund managers managed to make profits, they added.
As a mutual fund is invested in the share market, its net asset value depends on share prices, said the analysts.
Since the share prices of most companies decreased in the first quarter, the net asset value at market price of these mutual funds also declined, they observed.
From July to September, net loss of the Popular Life First Mutual Fund of RACE was Tk6 crore and its loss per unit was Tk0.19. In the corresponding period of the last fiscal year, its earnings per unit was Tk0.13.
PHP Mutual Fund One's net loss was Tk3 crore and loss per unit was Tk0.11. Its earnings per unit was Tk0.01 in the corresponding period of the last fiscal year.
The AB Bank First Mutual Fund suffered a net loss of Tk5 crore and its loss per unit was Tk0.19. During the same period a year ago, its earnings per unit was Tk0.05.
The EBL NRB Mutual Fund posted a net loss of Tk3 crore and its loss per unit was Tk0.15. Its earnings per unit was Tk0.05 in the same period of the last fiscal year.
The IFIC Bank First Mutual Fund incurred Tk2 crore in net losses and its loss per unit was Tk0.13. In the corresponding period of the last fiscal year, its earnings per unit was Tk0.10.
The Trust Bank First Mutual Fund's net loss was Tk5 crore and loss per unit was Tk0.17. Its earnings per unit was Tk0.07 during the same period in the last fiscal year.
The EBL First Mutual Fund suffered a net loss of Tk2 crore and its loss per unit was Tk0.14. In the corresponding period of the last fiscal year, its earnings per unit was Tk0.05.
The First Janata Mutual Fund incurred Tk5 crore in net losses and its loss per unit was Tk0.17. Its earnings per unit was Tk0.04 during July-September of the last fiscal year.
The net loss of the Exim Bank First Mutual Fund was Tk2 crore and its loss per unit was Tk0.17. In the corresponding period of the last fiscal year, its earnings per unit was Tk0.14.
The First Bangladesh Fixed Income Fund's net loss was Tk15 crore and loss per unit was Tk0.19. During July-September of the last fiscal year, its loss per unit was Tk0.08.
