Vanguard AML announces last trading and record dates ahead of wind-up
Vanguard AML BD Finance Mutual One, managed by Vanguard Asset Management Limited, began trading on the stock exchanges on 17 January 2016 with a fund size of Tk104.32 crore.
Vanguard AML BD Finance Mutual One, a closed-end mutual fund that has completed its ten-year tenure, is set to be wound up after the majority of its unitholders voted in favour of converting the fund at maturity.
The decision was approved at a unitholders' meeting held on 29 October, according to a notice published on the stock exchanges' websites today (20 November).
The fund's trustee, Bangladesh General Insurance Company (BGIC), announced that the last trading day for the fund has been fixed for 22 December, while the record date has been set for 23 December. Unitholders listed on the record date will be eligible to receive the winding-up proceeds once all regulatory procedures are completed and validated by the Bangladesh Securities and Exchange Commission (BSEC).
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Vanguard AML BD Finance Mutual One, managed by Vanguard Asset Management Limited, began trading on the stock exchanges on 17 January 2016 with a fund size of Tk104.32 crore.
As of 13 November this year, the fund reported a net asset value (NAV) of Tk8.50 per unit based on market price and Tk10.04 per unit based on cost, against a face value of Tk10. Total net assets stood at Tk88.63 crore (market price) and Tk104.74 crore (cost price) after accounting for all assets and liabilities.
Today the fund's units traded at Tk6.90 each, below their face value. According to its unaudited financial statements up to June 2023, the fund incurred a loss of Tk10.50 crore in the first six months of the year.
Once the winding-up process is completed, unitholders will receive their respective proceeds in line with regulatory requirements and BSEC approval.
