Trading of the units of CAPM IBBL Islamic Mutual Fund, a closed-end mutual fund will commence today (Monday) under "A" category, officials said.
Public subscription of the CAPM IBBL Islamic Mutual Fund remained opened from December 10 to December 18 last year to raise Tk 300 million through initial public offering (IPO).
The securities regulator -- Bangladesh Securities & Exchange Commission (BSEC) -- approved the draft prospectus of CAPM IBBL Islamic Mutual Fund on September 26, 2017.
The size of CAPM IBBL Islamic Mutual Fund is Tk 800 million. Of the fund's total size, Tk 500 million was financed by Islami Bank Bangladesh, the sponsor of the mutual fund and also the largest private commercial bank in Bangladesh.
Remaining Tk 300 million was collected through initial public offering, according to the prospectus.
CAPM IBBL Islamic Mutual Fund is the first Islamic closed-end Mutual Fund Of CAPM Company Limited.
On the close of operation on March 01, 2018, the Fund has reported net asset value (NAV) of Tk 10.06 per unit on the basis of current market price and Tk 10.01 per unit on the basis of cost price against face value of Tk 10.
The total net assets of the fund stood at Tk 672,314,515.59 on the basis of current market price and Tk 669,025,182.93 on the basis of cost price after considering all assets and liabilities of the Fund.
The objective of the fund is to generate attractive risk adjusted returns and disburse competitive dividend to the unit holders in the long-run by investing in a diverse arena of Sharia'a compliant eligible equity and debt securities of Bangladesh capital and money market.
Capital & Asset Portfolio Management Company is the fund manager, while Investment Corporation of Bangladesh (ICB) is the trustee and custodian of the CAPM IBBL Islamic Mutual Fund.
Presently, 36 closed-end mutual funds are listed on the Dhaka Stock Exchange (DSE).
Meanwhile, the sales of the units of VIPB Growth Fund, an open-end mutual fund, to collect Tk 180 million will begin March 11.
The sales of units of the fund will be continued for next 45 working days.
The securities' regulator approved the prospectus of VIPB Growth Fund on February 6.
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.
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