BSEC suspends block trading of Race-managed mutual funds

Staff Reporter: The Bangladesh Securities and Exchange Commission (BSEC) has prohibited any block market transactions of the units of ten mutual funds managed by asset manager Race.

The restriction, which took effect today (June 9), will remain in place until further notice, announced the stock exchanges.

The affected closed-end mutual funds are EBL First MF, Trust Bank First, IFIC Bank First, First Janata Bank MF, Popular Life First, PHP First, EBL NRB MF, AB Bank First, Exim Bank First, and First Bangladesh Fixed Income Fund.

Block market transactions occur at prices within a range of 10% higher or lower than the regular market price, beyond the regular trading screen, with a minimum transaction value of Tk5 lakh.

This mechanism facilitates large transactions at pre-agreed prices without disrupting the regular market.

Biniyougbarta/SAM//