BSEC asks MFs to disclose investment info quarterly

The Bangladesh Securities and Exchange Commission on Sunday asked the mutual funds to disclose details of their investment in listed and non-listed securities in the quarterly reports to check anomalies in the sector.

The BSEC issued a directive regarding the matter on the day and tightened the disclosure procedures about investment by the mutual funds.

In the directive,

1. Mutual Funds/AMC/Trustee/Custodian/Sponsor must submit such disclosures or documents when BSEC demands it
2. a. Mutual fund shall submit copy of audited financial statements to BSEC within 3 months of end of a financial year
b. copy of half-yearly un-audited statements to BSEC within 45 days of end of half-year
c. Quarterly portfolio statement and quarterly statement of change in NAV of each fund within 30 days of end of each quarter.
3. Mutual funds should prepare portfolio statements according to format attached in Annex-A, and must send all unitholders a copy of portfolios, and upload it on their website.
4. Mutual funds shall publish copies of un-audited quarterly financial statements to its website within 30 days of end of quarter and within 45 days of end of half-year.

The directive also said, ‘A mutual fund, asset manager, trustee, custodian and sponsor of mutual fund must make such disclosures or submit such documents as may be called upon to do so by the commission.’