The Bangladesh Securities and Exchange Commission (BSEC) has rejected both the applications for conversion from term to open-ended fund and extension of the term of the listed Asian Tiger Sandhani Life Growth Fund. This information was revealed by the Dhaka Stock Exchange (DSE).

Due to the lack of approval from sufficient unitholders as per the rules and the failure of the trustee of the fund to take a decision 150 (one hundred and fifty) days before the maturity of the fund and to inform the commission and the exchange within that period, it has been decided to reject the application of the asset manager company Asian Tiger Capital Partners Asset Management to convert the term of the ‘Asian Tiger Sandhani Life Growth Fund’ from term to open-ended fund and to extend the term.

It is to be noted that the term of the Asian Tiger Sandhani Life Growth Fund will end on March 10.