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I C B   A M C L   U N I T   F U N D


Highlights

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An open ended Fund with sale & repurchase facilities throughout the year except Thursday and book closure period.

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Fund is open to individuals, NRBs, Charitable Organisations(CO) & Registered Provident Funds(RPF), Registered Trust Funds(RTF).

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Minimum limit for investment is 20 units, maximum limit is 200,000 units for individual and 2,000,000 units for CO/RPF/RTF investment

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The income is tax free to a certain level in the hands of the investors. Moreover, the individual investors will get tax credit as per Income Tax Ordinance, 1984.

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Sale & repurchase prices are based on NAV

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Weekly announcement of NAV

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Option for re-investment of income at a concessional rate

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Units are lienable with banks and financial institutions for loan

Investment Objectives & Strategy

The objectives of the Fund are to provide regular income and capital appreciation in the long run through prudent investment management. Money to be collected under the Fund shall be invested in encashable/transferable securities whether in capital market or money market, privately placed debentures, preferential shares or securitized debts. Not more than 25 % of the total assets of the fund will be invested in Fixed Income Securities (FIS). Not less than 75 % of the total assets of the fund will be invested in capital market instruments out of which at least 50 per cent will be invested in listed securities.


Who and how to apply

Investment in this Fund is open to individuals, NRBs, Charitable Organizations and Trust Funds. An investor can apply for minimum of 20 units and maximum of 50,000 units. Units can be purchased on all working days except Thursday and book closure period from the counter of the ICB Asset Management Company, ICB branch offices and designated bank branches by submitting properly filled in prescribed unit sale form along with necessary payment for the units to be purchased at the prevailing sale price. Money receipt issued at the time of sale will be treated as allotment letter. Certificate will be issued within 90 days from the date of sale. Units can also be en-cashed / surrendered at the counters by submitting properly filled in prescribed surrender form along with the certificates to be surrendered at the prevailing price. The payment will be made on the same or next day through account payee cheque. The forms can be collected from the designated sale centers or can be downloaded from the web page.


Price Fixation Policy

The sale and repurchase prices of units are determined based on Net Asset Value (NAV) of the Fund. The NAV per unit is determined on weekly basis by dividing the net assets value of the fund by the total number of units outstanding. The Net Asset Value of the fund is calculated by excluding the total liabilities from the total assets of the Fund. The securities are valued as per criteria approved by the Securities and Exchange Commission and as per rule 58 of the Securities and Exchange Commission (Mutual fund) Rules, 2001. NAV calculated on a date shall form the repurchase price of units and shall be effective upto the next calculation of NAV of the fund. At present, the difference between sale and repurchase price is Tk. 5.00 per unit. The sale and repurchase prices are published in the newspaper and the daily news of the bourses.


Rights of the Unit Holders

 

Dividend :
Minimum 70% net income of the fund will be distributed as dividend. All the unit holders have equal but proportionate right in respect of dividend.

Exemption from Tax :
Dividend income is tax free to the individual investor upto Tk. 25000.00. Investment in the fund by an individual assesse will qualify for tax credit under section 44(2) of the Income Tax Ordinance, 1984.

Transfer of Units :
Units are transferable by way of inheritance/gift and or by specific operation of law.

Repurchase of Units :
Unit holders may surrender their units on all working days except Thursday and book closure period at the prevailing surrender price.

Lien : Loan facilities are available by pledging the units from the banks & financial institutions.



 
 
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