63

MARKET PULSE 

FEB-2018

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'18)  

AMC

NAV (BDT mn)

Market / Cost

Paid up Capital (BDT mn)

Monthly Return

At Market

At Cost

RACE

33,007.40

30,183.56

1.09

27,804.83

-2.39%

LR GLOBAL

10,938.64

9,247.48

1.18

8,895.84

-2.23%

AIMS

4,558.67

2,676.11

1.70

2,465.51

-2.61%

ICB AMCL

4,515.99

5,870.69

0.77

4,681.51

-3.41%

VANGUARD

3,301.46

3,100.58

1.06

2,630.65

-4.33%

VIPB

2,439.24

1,914.24

1.27

1,501.18

-3.45%

SEML

1,556.79

1,601.74

0.97

1,497.84

-1.58%

ATCP

859.44

751.32

1.14

617.86

-3.20%

CAPM

534.40

556.45

0.96

501.31

-3.53%

Source:DSE & LBSL Research

M

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 F

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 i

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 S

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Particular

Feb'18

Jan'18

Change

Industry NAV (BDT mn)

61,712.03

63,360.65

-2.60%

Industry Cap. (BDT mn)

41,282.79

42,142.68

-2.04%

Industry Price/NAV ratio

0.67

0.67

0.58%

Industry Turnover as % of Market 

Turnover

0.99%

1.02%

- 3 bps

DSEX

5,804.94

6,039.78

-3.89%

Source:  DSE & LBSL Research

Source: LBSL Research

CAPM, 0.87%

ATCP, 1.39%

RACE, 53.49%

LR GLOBAL, 17.73%

AIMS, 7.39%

ICB AMCL, 7.32%

VANGUARD, 5.35%

VIPB, 3.95%

SEML, 2.52%

Closed-end Mutual Funds
This month, DSEX gave -3.89% index return and in line with 

market movement, mutual fund industry (closed-end) witnessed 

NAV decrease of 2.60% compared to previous month. The 

industry out-performed compared to the benchmark index (by 

129bps). Closed end mutual funds’ current valuation level went 

up minimally, as the listed mutual funds’ market capitalization 

decreased by 2.04%, against the 2.60% NAV decrease. 
In terms of portfolio return, the best performing fund was 

AIBL1STIMF (-1.22%), SEMLLECMF (-1.48%) and 

SEMLIBBLSF (-1.63%). Conversely, 1STPRIMFMF (-4.78%), 

VAMLBDMF1 (-4.44%), and VAMLRBBF (-4.27%) were the 

poorest performers in regards to NAV returns in last month. 

None of the closed-end funds generated positive NAV return in 

February. Of course, given the market return, this is not at all 

surprising. All the 36 listed closed end funds traded at discount 

compared to NAV. 

During FY17, total exports of the country 
stood at USD 34.82 bn, receiving only 
1.64% growth YoY. Feb’18 recorded 
monthly export growth of 12.69% YoY and 
amounted to USD 3.07 bn. Export earnings 
have bounced back driven by surge in 
shipments of garments.  

During FY17, the total import payments (C&F) of the country stood at USD 47.01 

bn, receiving 8.97% growth YoY. This high import growth was largely driven by 

food grains and consumer goods imports which grew by 21.15% and 26.85% YoY 

respectively.

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