Vanguard AML Rupali Bank Balanced Fund is set to be converted from a closed-end fund into an open-end fund following approval from the Bangladesh Securities and Exchange Commission (BSEC).

The fund’s trustee has called a special general meeting (SGM) of unit holders to seek approval for the conversion, based on a voluntary proposal from Vanguard Asset Management Ltd (VAML).

The SGM will be held at 11am on Oct 26 at Rawa Convention Hall in Mohakhali DOHS, Dhaka.

The record date has been set for Oct 4. Trading of the fund’s units on the stock exchange will remain suspended from that date until further notice or a new announcement.

The conversion is scheduled to take effect on Oct 7, 2026, subject to approval from unit holders at the SGM.

Unlike closed-end funds, open-end funds do not have a fixed maturity and allow investors to buy or sell units at prices determined under the fund’s applicable rules, generally based on net asset value (NAV).