BSEC instructs mutual funds to disclose investment details quarterly

Bangladesh Securities and Exchange Commission (BSEC) has instructed mutual funds to disclose details of their investment in quarterly reports that include investment in listed securities, bonds, open-end mutual funds and pre-IPO placement shares.

Besides, the statements will have to be published on their websites.

BSEC issued a notification in this regard on Sunday.

BSEC in its directive states, 'A mutual fund must, before expiry of 30 days from the end of each quarter, send to all unitholders a complete statement of portfolios of a scheme and must also upload the same on its web site.’

Moreover, a fund manager will publish a copy of its unaudited half-yearly financial statements within 45 days from the end of the half-year on its website.

Besides, a copy of the duly un-audited financial statements, including the statement of financial position, statement of comprehensive income, statement of cash flow, statement of changes in equity and accompanying accounting policies, and notes to the financial statements of the fund and for each the scheme will be submitted to the commission, once a year, within three months of the end of a financial year. 

It further reads that a copy of half-yearly unaudited financial statements has to be furnished to the commission within 45 days from the end of the first half of the financial year.

A quarterly statement of changes in the net asset of each of the schemes of the fund has to be submitted to the commission within 30 days of the end of each quarter. And the quarterly statement of portfolios has to be submitted, including changes therein from the previous period, for each of the schemes, the directive states.

A mutual fund, asset management company, trustee, custodian, and sponsor of the mutual fund will comply with the commission's directives.  

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