Dhaka, July 21 -- The trustee of two close-ended mutual funds proposed converting them into open-ended funds upon maturity in December this year.

The funds -- SEML Lecture Equity Management Fund and Vanguard AML BD Finance Mutual Fund One -- overseen by Strategic Equity Management and Vanguard Asset Management will complete 10 years on December 23.

Asset managers say unitholders will be benefited in both ways - conversion or liquidation.

However, conversion is subject to unitholders' approval and regulatory consent, according to the stock exchange filing on Sunday.

Bangladesh General Insurance, trustee of both funds, said asset managers had requested necessary measures to facilitate the conversion.

As per the latest amended mutual fu...