Dr. Ghulam Shawkat Hossain, an MBBS Doctor and his friend Ehsanul Kabir, a banker has been failed garner any positive result during last four years of their introduction Islamic Shariah based mutual fund “SEML IBBL Shariah Fund”.
Rather due to their poor performance in attaining business 10 per cent of institutional investor left the fund share, DSE sources said.
SEML IBBL Shariah Fund is a closed-end mutual fund incorporated in Bangladesh. The Fund seeks to achieve superior risk adjusted return in the forms of capital appreciation, dividend income, and to provide attractive dividend payments to the unit holders, by investing only in Shariah Compliant instruments of capital and money markets.
Strategic Equity Management Limited (SEML) In the quarter under review, the fund’s earnings per unit was 40 paise. At the same time last year, the loss was 61 paise.
In the first 6 months of last year (July-December, 19), the fund earned 1 taka 58 paise. At the same time last year, the loss was 90 paise. On December 31, 2019, the fund’s net asset value per share (NAVPU) was 11 rupees 34 paise.
Strategic Equity Management Limited (SEML) was incorporated in 2007 under the company act 1994 of Bangladesh. A highly capable professionals came together to form the core team of SEML. SEML was awarded the Asset Management Company (AMC) license from Bangladesh Securities and Exchange Commission (BSEC) in 2013.
SEML has started its journey with the vision to provide unique, innovative, trustworthy solutions for both capital and money market instruments. The management team of SEML possesses world-class experience having an extensive network in local business relationship on Investment management. The management is highly qualified in fund management as well as has having vast knowledge in both money and capital market instruments. The Analyst team consists of highly capable young Bangladeshi talent, trained to international standards. As professional, all team members have strong background on customized and application software related to this segment of business.
Listed SEML IBBL Shariah Fund has released its unaudited financial report for the second quarter. Dhaka Stock Exchange (DSE) sources said. The financial report was released after a review of the fund’s trustees at a meeting on Wednesday (January 28th).