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09 August 2022


Business Insider Bangladesh

BSEC okays prospectuses of two funds

BI Report || BusinessInsider

Published: 17:44, 28 June 2022  
BSEC okays prospectuses of two funds

BSEC logo

The capital market regulator Bangladesh Securities and Exchange Commission (BSEC) has approved prospectuses of two funds.

The approved two funds are: EDGE Al-Amin Shariah Consumer Fund (open-end) and ICB AMCL CMSF Golden Jubilee Mutual Fund (close-end).

The approval was given at a regular meeting of the commission held on Tuesday, according to a press release.

The initial target of the approved EDGE Al-Amin Shariah Consumer Fund (open-end) is Tk 25 crore. Of this, the entrepreneur ‘EDGE AMC Limited’ paid Tk 2.5 crore. The remaining Tk 22.5 crore will remain open to general investors.

The face value of each unit of the fund is Tk 10. The asset manager of the fund is EDGE AMC Limited. 

Sandhani Life Insurance Company Limited and BRAC Bank Limited are acting as trustee and custodian of the fund respectively.

On the other hand, ICB AMCL CMSF Golden Jubilee Mutual Fund (close-end) has a target of Tk 100 crore. 

Capital Market Stabilisation Fund (CMSF) provided Tk 50 crore and ICB Asset Management Company Limited (ICB AMCL) provided Tk 20 crore as the fund’s initiators.

Besides, Investment Corporation of Bangladesh (ICB) provided Tk 5 crore for pre-IPO placement. The remaining Tk 25 crore has been allocated for all investors, which will be raised through initial public offering (IPO).

The face value of the fund is Tk 10 per unit. The asset manager of the fund is ICB Asset Management Company Limited (ICB AMCL). 

The trustee and custodian of the fund are Bangladesh General Insurance Company Limited and BRAC Bank Limited respectively.

 

Nagad