  The paper intends to perform a relevant study on the closed-end fund puzzle
in the perspective of an emerging market. Quarterly data of 36 closed-end
mutual funds traded in Dhaka Stock Exchange are collected over the sample
period of 2016 to 2019. Dependent and independent variables are mapped down by
exploring previous researches. Weight of top 10 investments, fund size, fund
age, fund maturity, turnover and dividend yield are taken as explanatory
variable to analyze the impact on CEF discount. A fixed effects panel
regression is performed on the data set with few diagnostic tests to ensure the
reliability of the analysis conducted. The results show that, the variable fund
size and fund maturity have a significant positive and turnover has a
significant negative impact on CEF discount while the impact of weight of top
10 investments, dividend yield and fund age are found insignificant.
