RACE Asset’s 6 mutual funds declare dividends
Three will pay 3-5% cash dividend, while other three will not pay any
Six publicly listed mutual funds, managed by RACE Asset Management PLC, have declared dividends for the 2022-23 fiscal year.
Three funds will pay a total of Tk58.29 crore in cash dividends to their unit holders.
First Bangladesh Fixed Income Fund and Trust Bank 1st Mutual Fund will each pay 5% cash dividend for FY23, which was 6% and 7% respectively for the previous 2021-22 fiscal year.
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Exim Bank 1st Mutual Fund will pay a 3% cash dividend for FY23, which was 7% in FY22.
The earnings per unit (EPU) of Trust Bank 1st Mutual Fund, which has a fund size of Tk200 crore, stood at negative Tk0.1 in FY23. In the previous fiscal, it was positive Tk0.79.
The remaining three funds namely EBL First Mutual Fund, IFIC Bank 1st Mutual Fund, and 1st Janata Bank Mutual Fund will not pay any dividend for FY23.
In FY22, EBL First Mutual Fund paid a 6% cash dividend, while IFIC Bank 1st Mutual Fund, and 1st Janata Bank Mutual Fund each paid 7%.
The EPU of EBL First Mutual Fund, which has a fund size of Tk100 crore, stood at negative Tk0.29 in FY23. In the previous fiscal, it was positive Tk0.09.
According to its website, RACE Asset manages 12 mutual funds. Of them, ten are closed-end and listed on the stock exchanges, and the two open-ended ones are not listed. Among the listed ones, four are yet to declare dividends.
