The Tk 5,000 crore Bangladesh Fund will be placed today before the Securities and Exchange Commission (SEC) for approval and may get the go-ahead, officials said.
The much-talked open-ended mutual fund will be a professionally managed collective investment scheme with an unlimited lifetime and size.
Money will be collected from sponsors or investors through sales agents and will be invested in stocks, bonds and short-term money market instruments. It will also pay out dividends to the unit holders annually.
The Bangladesh Fund might get the approval in the SEC meeting after a discussion on the incentives sought by the Investment Corporation of Bangladesh (ICB), said the SEC officials.
The ICB requested the regulator to allot 10 percent shares of government companies and 5 percent shares of private companies to the Bangladesh Fund.
Khairul Hossian, chairman of the ICB, said: “The fund will be more lucrative for the investors, if the commission approves the incentives.”
The initial size of the fund will be Tk 1,500 crore and it will increase in the future. The ICB also requested the SEC to reduce the registration fees for the fund
The much-talked open-ended mutual fund will be a professionally managed collective investment scheme with an unlimited lifetime and size.
Money will be collected from sponsors or investors through sales agents and will be invested in stocks, bonds and short-term money market instruments. It will also pay out dividends to the unit holders annually.
The Bangladesh Fund might get the approval in the SEC meeting after a discussion on the incentives sought by the Investment Corporation of Bangladesh (ICB), said the SEC officials.
The ICB requested the regulator to allot 10 percent shares of government companies and 5 percent shares of private companies to the Bangladesh Fund.
Khairul Hossian, chairman of the ICB, said: “The fund will be more lucrative for the investors, if the commission approves the incentives.”
The initial size of the fund will be Tk 1,500 crore and it will increase in the future. The ICB also requested the SEC to reduce the registration fees for the fund