The securities regulator has approved the prospectus of VIPB Growth Fund, an open-end mutual fund.
The approval came Tuesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).
As per the BSEC approval, the initial size of the VIPB Growth Fund will be Tk 200 million.
Of Tk 200 million, Tk 180 million will be collected through sales of units of the fund.
VIPB Asset Management Company, the sponsor and fund manager of the VIPB Growth Fund will provide the remaining Tk 20 million.
The face value of the units of the VIPB Growth Fund will be Tk 10 each.
Sandhani Life Insurance Company is the trustee of the VIPB Growth Fund, while BRAC Bank is the custodian of the fund, according to BSEC information.
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