Open Ended Fund
Seventh ICB Unit Fund
Overview
- Name: Seventh ICB Unit Fund
- Nature: Open-end Growth mutual fund
- Life and Size of the Fund: Perpetual Life with unlimited size
- Sponsor: Investment Corporation of Bangladesh
- Trustee: Investment Corporation of Bangladesh
- Custodian: Investment Corporation of Bangladesh
- Asset Manager: ICB Asset Management Company Limited
- Initial Size of the Fund: Tk. 47,00,00,000.00 (Forty seven crore) divided into 4,70,00,000 (Four crore seventy lac) units at par value of Tk. 10.00 (ten) each.
- Face Value: Tk. 10.00 (ten) per unit
- Minimum Application Amount: 100 (hundred) units
- 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 hours as specified by the Asset Management Company or through a selling agent. The Asset Management Company or selling agent shall be liable to repurchase the units on behalf of the Fund.
- Tax Benefit: Income shall be tax-free up to a certain level, which is permitted as per 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 an Annual Report together with the yearly and half-yearly statements of accounts as and when published.
Fund Size
310.70 million
NAV(At Market Price)
9.91 (Tk.)
CAGR
Inception Date
09/10/2016
Sale Price
10.00 (Tk.)
Risk Profile
Objectives & Prospective Investors
The objective of the Fund is to provide attractive dividend to the unit holders by investing the proceeds in the capital market and money market.
Prospective Investors: Individuals, institutions, Non-resident Bangladeshi (NRB), mutual funds and collective investment schemes are eligible to invest in this Fund.
Investment Objectives & Strategy
The objective of the Fund is to provide attractive dividend to the unit holders by investing the
proceeds in the capital market and money market.
The Fund shall invest subject to the rules and only in those securities, deposits and
investments approved by the BSEC and/or the Bangladesh Bank and/or the Insurance
Development & Regulatory Authority Bangladesh (IDRA) of Bangladesh or any other
competent authority in this regards.
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 shall be distributed within 45 (forty five) days from the date of declaration.
NAV Performance Chart
NAV, Sale & Surrender Price
| Date | NAV/Unit | Sale Price (Tk.) | Surrender Price (Tk.) |
|---|---|---|---|
| 14 Jan 2025 | 9.91 | 10.00 | 9.70 |
| 07 Jan 2025 | 9.91 | 10.00 | 9.70 |
| 30 Dec 2024 | 9.91 | 10.00 | 9.70 |
| 24 Dec 2024 | 9.91 | 10.00 | 9.70 |
| 17 Dec 2024 | 10.04 | 10.00 | 9.70 |
| 10 Dec 2024 | 9.94 | 10.00 | 9.70 |
| 03 Dec 2024 | 9.96 | 10.00 | 9.70 |
| 26 Nov 2024 | 9.84 | 10.00 | 9.70 |
| 19 Nov 2024 | 9.95 | 10.00 | 9.70 |
| 12 Nov 2024 | 13.57 | 10.00 | 9.70 |
