Bangladesh RACE Asset Management, the country’s leading fund manager, has declared dividends worth Tk 60 crore on its four mutual funds for their unit holders for the financial year 2022–23.
The trustee board of the funds declared dividends on Sunday after reviewing the funds’ audited financial statements for the year ended on June 30, 2023.
Of the funds, First Bangladesh Fixed Income Fund declared cash dividends of 5 per cent or Tk 38.81 crore, while Trust Bank First Fund declared dividends of 5 per cent or Tk 15.18 crore, and Exim Bank First Fund declared 3 per cent cash or Tk 4.30 crore for their unit holders.
This year, a cash dividend of Tk 1.88 crore, or 5.50 per cent has been declared by Race Special Opportunities Unit Fund, which is non-listed in the stock market and managed by Race Asset Management.
Out of the country’s 36 listed mutual funds, 33 are being traded at discounts on the stock exchanges. The market capitalisation of 36 funds stood at Tk 37.5 billion, while the assets under Management (AUM) of the sector stood at Tk 58.6 billion.
RACE holds the highest market share of 50.8 per cent with 10 funds and an AUM of Tk29.8 billion.
