Bangladesh, Aug. 12 -- The handover of assets of the LR Global Bangladesh-managed six closed-end mutual funds (MFs) remains hanging as a court ruling bars the trustee from taking charge of them.

Advertisement As a result, the operations of the funds with an aggregate size of Tk 8.89 billion have become uncertain.

In February, the Bangladesh Securities and Exchange Commission (BSEC) removed LR Global from its role as asset manager of the pooled funds over violation of securities laws and mutual fund regulations that harmed the interest of unitholders.

The funds are DBH First Mutual Fund, Green Delta Mutual Fund, AIBL First Islamic Mutual Fund, LR Global Bangladesh Mutual Fund-1, NCCBL Mutual Fund-1, and MBL First Mutual Fund.

In absen...