AIMS mutual fund valuations every Sunday

AIMS of Bangladesh, an asset management company, has started
announcing the net asset value (NAV) of mutual funds on a weekly
basis instead of monthly disclosures. AIMS will disclose the NAV of
the three mutual funds it manages every Sunday, the first trading
day of the week. The company yesterday announced the NAV of the three
mutual funds: AIMS 1 st Mutual Fund, Grameen Mutual Fund One and
Grameen Mutual Fund One: Scheme Two. The NAV shows the performance of
a fund -- the returns on investment. "The weekly NAV declaration will
help investors make informed decisions," Yawer Sayeed, managing
director of AIMS, told The Daily Star. "The investors will no longer
have to wait a month to see the performance of the find," he said.
The total NAV of a mutual fund is calculated by excluding all
liabilities from the total market price of the fund. A per unit NAV
is found by dividing the total NAV by the total number of mutual
fund units. In line with existing rules, closed-end mutual funds have
to announce the NAV once in a month, while open-ended funds have to
declare the fortnightly NAV. The Securities and Exchange Commission
(SEC) also thinks the NAV should be announced more frequently. The
SEC is working to bring some changes to the mutual fund rules
regarding declaration of the NAV. A mutual fund, considered a
moderately risk-free investment tool, is a professionally managed
collective investment scheme that pools money from many investors and
invests in stocks, bonds and short-term money market instruments.
Presently, 18 mutual funds are listed on the Dhaka Stock Exchange
that accounts for around 6 percent of total market capitalisation.