An investment by Reliance Insurance Mutual Fund’s first scheme, Reliance One, has breached the prescribed investment limit, according to its audit report for the fiscal year ended June 30, 2025.
The information was disclosed in the audit report and reported by the Dhaka Stock Exchange (DSE).
According to the report, Reliance One invested Tk 82.06 million in the IBBL Mudaraba Perpetual Bond, equivalent to 12.88% of the fund’s total assets.
However, regulations limit investment in any single instrument to a maximum of 10% of a mutual fund’s total assets.
The auditor noted that the excess investment resulted in non-compliance with Rule 56 of the Securities and Exchange Commission (Mutual Fund) Rules, 2001.
As a result, Reliance One’s investment in the instrument exceeded the prescribed limit by 2.88 percentage points.
