Open Ended Fund
Bangladesh Fund
Highlights
- Name: Bangladesh Fund
- Initial Size: Tk. 5,000,00,00,000.00 (five thousand crore) divided into 50,00,00,000 (fifty crore) units at par value of Tk. 100.00 (one hundred) each
- Nature: Special Purpose Open-end Growth Mutual Fund with unlimited size
- Sponsors: Investment Corporation of Bangladesh, Janata Bank Limited, Bangladesh Development Bank Limited, Sadharan Bima Corporation, Sonali Bank Limited, Agrani Bank Limited, Rupali Bank Limited, Jiban Bima Corporation
- Trustee: ICB Capital Management Limited
- Custodian: ICB Capital Management Limited
- Asset Manager: ICB Asset Management Company Limited
- Face Value: Tk. 100.00 (one hundred) per unit
- Sale / Surrender / Transfer of Units: Over the Counter (OTC) of the Asset Manager and designated Selling Agent’s Branch Offices
- Transferability: The unit certificates of the Fund shall be freely transferable by way of inheritance/gift and/or by specific operation of the law
- Encashment: The unit holders can surrender their unit certificates during the business hour as specified by the Asset Management Company. The Asset Management Company shall be liable to repurchase the units on behalf of the Fund
- Tax Benefit: Income will be tax-free up to a certain level, as permitted per the Finance Act. Investment in the Fund would qualify for investment tax credit under section 44(2) of the Income Tax Ordinance 1984
- Report & Accounts: Every unit holder is entitled to receive the Annual Report together with the yearly and half-yearly statements of accounts as and when published
Fund Size
17535.20 million
NAV(At Market Price)
80.29 (Tk.)
CAGR
Inception Date
10/10/2011
Sale Price
84.00 (Tk.)
Risk Profile
Objectives & Prospective Investors
The main objective of the Fund is to help stabilize the capital market,
provide liquidity in the market and declare attractive dividend to the unit
holders.
Prospective Investors: NRB, Local Investors, Any government organizations including state-owned banks & financial institutions, Authority autonomous bodies, Projects, Private commercial banks, Insurance companies, Non-banking financial institutions, Merchant banks, Asset management companies, Individual and others
Investment Objectives & Strategy
The Fund's primary goal is to stabilize the capital market, promote long-term growth, enhance market liquidity, and offer attractive dividends to its unit holders by investing in both the capital and money markets.
Investors of all sizes—large, medium, and small—can invest in this Fund at any time, benefiting from a balanced and relatively lower-risk portfolio. Investing in this Fund not only supports the economic, infrastructure, and industrial development of the country but also expands the ownership base in securities. This significant Fund is anticipated to play a crucial role in stabilizing and developing the capital market, particularly the securities segment.
Dividend Policy & Mode of Distribution
The Fund shall as soon as may be, after the closing of the annual
accounts, declare and distribute dividend if any, to the unit holders in
accordance with the rules. Being a “Growth Scheme” in nature, the
Fund shall distribute at least 50 (fifty) percent of the total net profit
earned in the respective year or as determined by the Commission from
time to time.
The Fund shall create a dividend equalization reserve fund by suitable
appropriation from the income of the Fund to ensure consistency in
dividend.
The dividend warrant will be distributed within 45 (forty five) days from the
date of declaration.
Benefits
According to the Income Tax Act, 2023, investments are eligible for a tax rebate up to a certain amount. Unit holders of the Fund can benefit from lien facilities on their unit certificates from ICB. Additionally, other banks and financial institutions will provide loan facilities against the lien of these units.
Who Can Invest In This Fund?
Institutional investors, such as government organizations, state-owned banks and financial institutions, autonomous bodies, projects, private commercial banks, insurance companies, merchant banks, asset management companies, and other institutional investors, can invest in this Fund.
Additionally, individual investors, including Non-Resident Bangladeshis (NRBs), the general public, and other individuals, are also eligible to invest in this Fund.
NAV Performance Chart
NAV, Sale & Surrender Price
| Date | NAV/Unit | Sale Price (Tk.) | Surrender Price (Tk.) |
|---|---|---|---|
| 14 Jan 2025 | 80.29 | 84.00 | 81.00 |
| 07 Jan 2025 | 81.03 | 84.00 | 81.00 |
| 30 Dec 2024 | 80.46 | 83.00 | 80.00 |
| 24 Dec 2024 | 80.11 | 83.00 | 80.00 |
| 17 Dec 2024 | 80.90 | 83.00 | 80.00 |
| 10 Dec 2024 | 80.22 | 84.00 | 81.00 |
| 03 Dec 2024 | 81.42 | 84.00 | 81.00 |
| 26 Nov 2024 | 80.05 | 83.00 | 80.00 |
| 19 Nov 2024 | 81.09 | 83.00 | 80.00 |
| 12 Nov 2024 | 123.39 | 83.00 | 80.00 |
Rights of Unit The Holders
Unit certificates of the Fund can be bought, surrendered, and transferred at ICB AMCL's registered office, ICB Branch Offices, and designated Selling Agents’ Branches.
The unit certificates can be freely transferred through inheritance, as a gift, or by operation of law.
Transfers require a properly completed transfer form from both the transferor and transferee.
