Open Ended Fund
ICB AMCL Pension Holders' Unit Fund
Highlights
- Name: ICB AMCL Pension Holders' Unit Fund
- Initial Size: Tk. 10.00 crore divided into 10,00,000 Units of Tk. 100.00 each
- Nature: Open-end Mutual Fund
- Investment Limit: Under the scheme, an investor can invest a maximum of 10,000 units and a minimum of 100 units
- Transferability: Units are not transferable. However, a nomination facility is available under the scheme
- Sale & Repurchase of Units: Units are sold and repurchased at NAV-based prices throughout the year except Thursday and holidays. Repurchase is made at a discount of Tk. 3.00 per unit than the prevailing sale price. Instant redemption facilities are available. The sale and repurchase prices are declared on a weekly basis, giving the investors convenient entry and exit options. Investors can buy and sell units at the Head office of ICB Asset Management Company Ltd., ICB, and its branches and the designated bank branches
- Re-investment: There is a Cumulative Investment Plan wherein the investors can re-invest the income of the fund at a concessional rate of Tk. 1.00 per unit than the prevailing sale price
- Tax Benefit: The income is tax-free to the extent of Tk. 25,000.00 in the hands of the investors. However, application will be made to the National Board of Revenue for a 100% waiver of tax on income. Moreover, the investors will get a tax credit on investment as per the Income Tax Ordinance 1984
- Charges: There is no transaction charge
- Report & Accounts: Every unit holder is entitled to receive an annual report together with the yearly statement of accounts as and when published
Fund Size
213.40 million
NAV(At Market Price)
163.65 (Tk.)
CAGR
Inception Date
18/10/2024
Sale Price
170.00 (Tk.)
Risk Profile
Objectives & Target Group
The objectives of the Fund are to provide regular income and capital
appreciation in the long run to the retired people by investing their fund both in capital and
money market instruments.
The retired employees of Government, Semi-Government, Autonomous
Body, Sector Corporation, Nationalized Commercial Banks, Financial Institutions and
Insurance Corporations who have opted either for pension scheme or gratuity scheme shall
be eligible for investment in the Fund.
Investment Objectives & Strategy
The objectives of the Fund are to provide regular income and long-term capital appreciation to retired individuals through prudent investment management. Funds collected under the Fund will be invested in encashable/transferable securities in both the capital and money markets, privately placed debentures, preferential shares, or securitized debts.
1. Not more than 25% of the total assets of the fund will be invested in Fixed Income Securities (FIS).
2. At least 75% of the total assets of the fund will be invested in capital market instruments, with a minimum of 50% in listed securities.
Return & Mode of Distribution
Return: The fund shall pay minimum yearly guaranteed return @ Tk.9.00 per unit for first 5
(five) years. The return will be cumulative i.e. if the guaranteed return for a particular
period/ year cannot be paid due to insufficient income of the fund, it will be payable
subsequently within 3 years along with the regular return. If the guaranteed return or a part
thereof is not paid within 3 (three) years from the due date, the guarantor i.e. ICB shall
within 30 (thirty) days make payment of the guaranteed return in full or part what ever
applicable for the said period/year. There is scope for capital appreciation in long run on
redemption/ repurchase of units.
Mode of Distribution: The return will be paid semi-annually. The first payment of return
will be on 1st February 2005 and thereafter the guaranteed return will be paid on every 1st
August and 1st February
How to apply?
Investment in this Fund is open to retired employees of Government, Semi-Government, Autonomous Bodies, Sector Corporations, Nationalized Commercial Banks, Financial Institutions, and Insurance Corporations. Before investing, retired individuals are required to provide certain information on the prescribed form from their employer.
An investor can apply for a minimum of 100 units and a maximum of 50,000 units. Units can be purchased on all working days except Thursdays and holidays from the counter of ICB Asset Management Company, ICB branch offices, and designated bank branches. This requires submitting a properly filled-in prescribed unit sale form along with necessary payment at the prevailing sale price. The money receipt issued at the time of sale will serve as the allotment letter. Certificates will be issued within 90 days from the date of sale.
Units can also be redeemed or surrendered at the counters by submitting a properly filled-in prescribed surrender form along with the certificates to be surrendered at the prevailing price. Payment will be made on the same or next day via an account payee cheque.
The forms can be obtained from designated sale centers or downloaded from the website.
NAV Performance Chart
NAV, Sale & Surrender Price
| Date | NAV/Unit | Sale Price (Tk.) | Surrender Price (Tk.) |
|---|---|---|---|
| 14 Jan 2025 | 163.65 | 170.00 | 167.00 |
| 07 Jan 2025 | 164.97 | 170.00 | 167.00 |
| 30 Dec 2024 | 164.79 | 169.00 | 166.00 |
| 24 Dec 2024 | 164.10 | 169.00 | 166.00 |
| 17 Dec 2024 | 165.86 | 169.00 | 166.00 |
| 10 Dec 2024 | 165.01 | 170.00 | 167.00 |
| 03 Dec 2024 | 167.53 | 170.00 | 167.00 |
| 26 Nov 2024 | 164.28 | 169.00 | 166.00 |
| 19 Nov 2024 | 168.29 | 169.00 | 166.00 |
| 12 Nov 2024 | 284.74 | 169.00 | 166.00 |
Rights of the Unit Holders
Return
The fund guarantees a minimum yearly return of Tk. 9.00 per unit for the first 5 years. This return is cumulative; if it cannot be paid due to insufficient fund income in a particular period, it will be paid within 3 years along with regular returns. If the guaranteed return or a part thereof remains unpaid beyond 3 years from the due date, ICB as the guarantor will make full or partial payment within 30 days. The fund also offers potential for long-term capital appreciation upon redemption or repurchase of units.
Mode of Distribution
Returns are paid semi-annually. The initial payment was made in February 2005, with subsequent guaranteed returns on every 1st of August and 1st of February.
Tax Exemption
Returns are tax-free for individual investors up to Tk. 25,000. Investments in the fund qualify for tax credits under section 44(2) of the Income Tax Ordinance, 1984.
Transfer of Units
Units are not transferable, but nomination facilities are available under the scheme.
Repurchase of Units
Unit holders can surrender their units on all working days except Thursdays at the prevailing surrender price. Repurchase of units is done at a discount of Tk. 3.00 per unit compared to the prevailing sale price.
Lien
Units can be pledged as collateral for loans from banks and financial institutions.
Reinvestment
The Cumulative Investment Plan allows investors to reinvest fund income at a concessional rate of Tk. 1.00 per unit less than the prevailing sale price.
