The price of the units of the SEML FBLSL Growth Fund declined 62.18 per cent in last 15 sessions.
Following continuous price correction, the fund became the worst loser on Tuesday as the unit price closed at Tk 16.60 each with a loss of 9.78 per cent or Tk 1.80.
The price of the units of the SEML FBLSL Growth Fund declined 62.18 per cent or Tk 27.30 in last 15 sessions executed on Dhaka Stock Exchange (DSE).
Earlier, the ten taka units of the fund displayed 'abnormal' price hike till July 25 last.
In response to a DSE query dated July 14, 2019, the fund manager in a knee-jerk reply informed that there was no undisclosed price sensitive information for the then unusual price hike and increase in volume of units.
On the close of operation on July 25, 2019, the fund reported net asset value (NAV) of Tk. 10.63 per unit on the basis of current market price and Tk. 10.79 per unit on the basis of cost price against face value of Tk. 10.00.
But the unit price of the fund jumped to Tk 44.40 each on July 25 last following abnormal price hike.
Later, the fund's units witnessed price correction on July 29 and the declining trend continued till Tuesday.
According to DSE information, the general investors earlier owned very minimum amount of units of the fund.
The sponsors owned 51.41 per cent units, institutes 48.44 per cent and general investors 0.15 per cent as on July 30, 2019.
Later, general investors' holding rose by 0.30 per cent as on July 31, as the institutes offloaded same amount of units at high prices.
In early August, a corporate sponsor of the fund expressed intension to sell a significant amount of units of the SEML FBLSL Growth Fund.
The trustee committee of the fund has declared 5 per cent cash dividend based on net income for the year ended on June 30, 2019 and considering previous retained earnings.
The fund reported earnings per unit (EPU) of Tk. 0.38, NAV per unit at market price of Tk. 10.70, NAV per unit at cost of Tk. 10.76 and NOCFPU of Tk. 0.62 for the year ended on June 30, 2019.
