Sales of IDLC Growth Fund unit begin February 27

FE Report

The sales of the units of IDLC Growth Fund, an open-end mutual fund, will be started on February 27 and will be continued for next 45 working days.

The Bangladesh Securities and Exchange Commission (BSEC) approved the draft prospectus of IDLC Growth Fund on January 30 last.

As per the BSEC approval, IDLC Growth Fund will go public with an initial size of Tk 500 million.

Of Tk 500 million, Tk 100 million will be collected from sponsor-directors, while remaining Tk 400 million will be collected by selling units of the fund.

The face value of the units of IDLC Growth fund is Tk 10 each.

IDLC Finance is the sponsor of IDLC Growth Fund, while IDLC Asset Management is the fund manager.

Arif Khan, managing director of IDLC Finance, previously said they had moved to float funds as part of the job of restoring investors' confidence in the mutual fund industry.

He said the efficient management of mutual funds will be one of the core operations of IDLC Finance in the coming days to serve interest of the investors and the capital market.

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