ICL floats MF

Impress Capital Limited (ICL), a wealth management company, has floated a new open-end mutual fund namely "BCB ICL Growth Fund" recently. It opened initial public subscription on April 01, 2018 and closed the fund successfully within a day. The initial fund size was Tk 250 million. Bangladesh Commerce Bank Limited (BCB), the sole sponsor of the fund, contributed Tk 100 million of the initial fund size. Investment Corporation of Bangladesh (ICB) will act as Trustee of the fund. Brac Bank Limited is the custodian and ICL is the fund manager. ICL launched a self-sponsored open-end mutual fund in August 2016, namely "ICL Balanced Fund", first of its kind in the capital market of Bangladesh. The total return of "ICL Balanced Fund" for the year 2017 was 31.06 per cent. — Statement