After 30% price decline, Golden Jubilee Mutual Fund tops gainer list
After a 30% fall due to absence of a circuit breaker for dividend declaration on Wednesday, the unit price of the Golden Jubilee Mutual Fund increased by 8.69% today.
The price of per unit increased to Tk7.5 each on Thursday, and it rose to the top gaining list at 12:10pm.
Earlier, on the previous trading session, it's per unit price declined to Tk6.9 each from Tk9.9.
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According to rule, no circuit breaker is applicable on the day a company declares dividend.
Golden Jubilee Mutual Fund on Wednesday declared a 1.2% cash dividend for unit holders for the period that ended on 31 December 2022.
According to a disclosure on the stock exchanges, the trustee of the fund has approved the dividend based on its net income.
The net asset value (NAV) per unit of the fund stood at Tk10.13 at market price and NAV per unit's cost price was Tk10.21 as of 31 December 2022.
Capital Market Stabilization Fund (CMSF) has launched the closed-end mutual fund to mark the Golden Jubilee of independence of Bangladesh and "Mujib Borsho".
The CMSF provided Tk50 crore or 50% of the total size of the fund while ICB Asset Management Company, the fund manager, contributed Tk20 crore and Investment Corporation of Bangladesh (ICB) provided Tk5 crore as pre-IPO placement.
The remaining Tk25 crore was collected through initial public offering (IPO) from the general investors.
The trading of the fund debuted on 21 September 2022.
On Wednesday, per unit adjusted opening price was Tk9.90 each. At 10:50 am, the last trading price of per unit declined to Tk6.20 each, 37.37% decline from the previous trading session.
