BSEC approves draft prospectus of UCB Taqwa Growth Fund

The Bangladesh Securities and Exchange Commission (BSEC) has approved the draft prospectus of UCB Taqwa Growth Fund (Open-End).

The approval was given at the BSEC’s regular commission meeting on Thursday (January 20), according to a press release.

The initial target of the fund is Tk 35 crore. Of this, UCB Asset Management Limited has provided Tk 5 crore (14.285 percent of the initial size of the fund) and the rest will remain open to the general investors.

The face value of the fund is Tk 10 per unit. UCB Asset Management is the asset manager of the open-end fund.

The trustee and custodian of the fund are Sandhani Life Insurance Company Limited and BRAC Bank Limited.