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Task force recommends no further extension for closed-end mutual funds

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The article from TBS News discusses the recommendations made by a task force regarding the future of closed-end mutual funds in Bangladesh. The task force, formed by the Bangladesh Securities and Exchange Commission (BSEC), has advised against extending the tenure of these funds beyond their current terms. Instead, they suggest that these funds should either be converted into open-end funds or be wound up. This decision comes in light of the ongoing issues with liquidity and the performance of closed-end mutual funds, which have been underperforming compared to other investment options. The task force's report highlights the need for better management, transparency, and investor protection in the mutual fund sector. It also points out that many closed-end funds have not been able to provide the expected returns to investors, leading to a loss of confidence. The recommendations aim to revitalize the mutual fund market by aligning it more closely with investor interests and market dynamics.

Read the Full tbsnews Article at:
[ https://www.tbsnews.net/economy/stocks/task-force-recommends-no-further-extension-closed-end-mutual-funds-1066856 ]