DHAKA, March 10, 2026 (BSS) - The Bangladesh Securities and Exchange Commission (BSEC) has approved the conversion of the "SEML Lecture Equity Management Fund" from a closed-end to an open-end mutual fund.

The decision was finalized during the 1002nd commission meeting held today at the Commission's meeting room, said a press release. 

BSEC Chairman Khondoker Rashed Maqsood presided over the session, where the fund's structural transition was among several regulatory matters addressed.

The commission's approval to transform the fund into a perpetual, open-end format follows the completion of its mandatory 10-year term as a closed-end fund. 

Additionally, the Commission approved all relevant documents pertaining to the fund. 

The initial size of the newly converted open-end SEML Lecture Equity Management Fund will be Taka 50 crore. Strategic Equity Management Limited is acting as the Asset Manager, while Bangladesh General Insurance Company PLC and Commercial Bank of Ceylon PLC are serving as the Trustee and Custodian, respectively.