Mutual funds will continue to perform well

The country's mutual fund sector is performing well and will continue to maintain the momentum in the coming days, said Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam. 

Mutual funds pool money from investors to channel it into securities such as stocks, bonds and other assets. Investors are then paid their share as dividends depending on the profits earned.

"Now, this is the demand of the time, to get more investments in the sector both from local and foreign investors," Professor Islam told a conference as chief guest.

The conference titled "Investment Management in Bangladesh" was jointly organised by the BSEC and Dhaka Stock Exchange (DSE) in Cox's Bazar on Saturday, according to a press release circulated by the stock market regulator.

The commission remains alert to protect the interests of the capital market investors amid the ongoing challenging market situation, said the BSEC chairman.

Although investors are failing to secure high profits, the regulator is taking steps so that investors can avoid big losses, he said.

BSEC Commissioner Mizanur Rahman presented the conference's keynote paper titled "Current State and Future Direction of Mutual Funds and Collective Investment Schemes in Bangladesh", focusing a comparative analysis of mutual fund sectors of Asian countries.

For the development of mutual funds, the sector needs to enhance the capacity of the people and bring about reforms to related rules and regulations, he said.

The stock market still lags behind the development of the economy, so the BSEC is working to develop it and make it smart, said Md Abdul Halim, a commissioner of the BSEC.

Shaikh Shamsuddin Ahmed, a commissioner of the BSEC, Hasan Imam, president of the Association of Asset Management Companies and Mutual Funds, and M Shaifur Rahman Mazumdar, chief operating officer of the DSE, also spoke at the event.