Golden Jubilee Mutual Fund investors bag 30% gain in 3 days

Despite stock market fallout, investors shared a breath of relief from investing in ICB AMCL CMSF Golden Jubilee Mutual Fund after they raked in a 30% capital gain in their portfolio in only three days.

The closed-end mutual fund also secured the top gainer's position at Dhaka Stock Exchange (DSE) for three consecutive days.

During the early session on Monday, per share of the company was trading at Tk9 each which was 9.76% higher than the previous session at the DSE.

Its highest unit price was Tk11 after debut trading.

Market insiders said, its unit price fell by 30% last Wednesday (15 February) due to the absence of a circuit breaker for dividend declaration. That is why investors have been trying to buy it at a cheaper cost.

Golden Jubilee Mutual Fund last week (Wednesday) declared a 1.2% cash dividend for unitholders for the period that ended on 31 December 2022. As per the disclosure of 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 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 an initial public offering (IPO) from the general investors