FAQs

BCB ICL Growth Fund is an open-end Mutual Fund, appropriate for both Individuals and Institutions, that invests in listed undervalued equity instruments to generate above average return and grow the investments for the investors.

Impress Capital Limited (ICL), a BSEC licensed Asset Management Company and a venture of the renowned Impress Group, will manage the Fund on behalf of investors.

Bangladesh Commerce Bank is the Sponsor of the BCB ICL Growth Fund. As the Sponsor of the fund, BCB will contribute 40% of the Initial fund size to the Fund.

Investment Corporation of Bangladesh (ICB) is the Trustee of ICL Balanced Fund. As Trustee of the fund, ICB will supervise and monitor all activities of the BCB ICL Growth Fund.

BRAC Bank Limited is the Custodian of ICL Balanced Fund. Custodian of the fund will be responsible for holding all the assets of the Fund.

Portion of ownership in a mutual fund is called a unit. This is the legal certificate of your investments with us, Investors can purchase or redeem units at the fund’s current Net Asset Value (NAV) per share.

NAV stands for Net Asset Value. Net Asset Value of the fund is the market value of the total assets of the fund subtracted by the total liabilities and provisions against the fund. The NAV is published weekly as per unit NAV on the ICL website.

The following formula will be used to determine the Fund’s Per Unit NAV:

BCB ICL Growth Fund will declare the NAV of the fund on Thursday every week in the Asset Manager’s website.

Investors can subscribe/purchase the units of BCB ICL Growth Fund through Impress Capital Limited (ICL) or designated Selling Agents. To learn more about subscription please visit “How to Invest” Section in “BCB ICL Growth Fund” under “Products” tab of our website or contact through the means provided in the website.

You can invest or withdraw any time by buying or selling the units at NAV per unit within 7 days of notice period.

BDT 1,000 per application (100 units) for Individuals and BDT 100,000 per application (10,000 units) for institutions.

ICL will charge 1-2.5% per annum on a quarterly basis on total fund under management.

Investor needs to submit the following documents during subscription of BCB ICL Growth Fund:

1. One copy of National ID/Passport E-Tin Applicant

2. One copy of National ID card/Passport of Nominee

3. Two copies of Photograph of the Applicant

4. One copy of Photograph of the Nominee

5. An account payee cheque in favor of “BCB ICL Growth Fund” mentioning the amount of investment.

An eligible person (both individual and institution) can purchase whatever number of lots (10 units per lot) in a single or joint name at all time. The initial price of each unit is BDT 10

Every investor of BCB ICL Growth Fund will be provided with an electronic certificate against each successful transaction.

Investors can redeem or sell their subscribed or purchased units of BCB ICL Growth Fund at their will at the redemption price announced by ICL. For surrendering units of the Fund, Investors need to go to our corporate office/Selling Agents during working days* before 4.00 pm. ICL or Selling Agent will help investors surrender units of BCB ICL Growth Fund as per request. Please note that, the redemption price will be declared weekly based on the Net Asset Value (NAV) of the fund.

*Buy/Sell Cannot be done on Thursday.

Surrender price is the price that you receive on redeeming or surrendering each unit of BCB ICL Growth Fund you own. This price is calculated weekly based on the Net Asset Value (NAV).

The proceeds of unit surrenders will be either transferred to the Bank Account of the Investor or through A/C Payee Cheque in favor of the Investor.

Any investor of BCB ICL Growth Fund will be benefitted by two types of income as return from the fund. The income opportunities are:

1. Dividend declared by the fund

2.Capital Gain

Summary of Annual Report & Accounts of the Fund will be published in a Daily Newspaper and the Website of Asset Manager. An investor can collect the detailed report & accounts from the office of Asset Manager.

The following organizations have been appointed to act as the selling agents of the mutual fund by the asset manager:

The asset manager in future may appoint other organizations as its agent or cancel any of the agents named above subject to approval of the Trustee and with due intimation to the BSEC. In addition to that, individuals will also be eligible to work as selling agent to be appointed by the Asset Manager as per সিকিউরিটিজ অ্যান্ড এক্সচেঞ্জ কমিশন (মিউচ্যুয়াল ফান্ড) বিধিমালা, ২০০১.
1.1 ADDRESS OF THE SELLING AGENTS
 
BRAC EPL Stock Brokerage Ltd:

 Commerce Bank Securities and Investment Limited:

A Systematic Investment Plan or SIP is a very convenient and disciplined way of investing money in mutual funds. SIP allows an investor to invest a certain pre-determined amount at a regular interval (monthly, quarterly, semi-annually, annually, etc.).

A SIP is a planned approach towards investments and helps to inculcate the habit of saving and building wealth for the future.

Systematic Investment Planning or SIP is an investment procedure through which one can invest in mutual funds managed by ICL by investing a pre-determined amount at a regular interval.

The mutual funds managed by ICL are ICL Balanced Fund and BCB ICL Growth Fund.

At present, the investment procedures through which one can invest in mutual funds managed by ICL are- Lump Sum and Systematic Investment Planning (SIP).

Investors can subscribe/purchase the units of ICL Balanced Fund or BCB ICL Growth fundthrough SIP from the Impress Capital Limited (ICL) Website/ ICL Office or designated Transaction Agents (TA). To learn more about subscription please visit How to Invest Section of our website orcontact through the means provided below.

You can invest or withdraw any time by buying or selling the units. So, if investors want, within a week they may withdraw. However, the investors are suggested to remain invested till the maturity of their respective SIP investments (2 years/3 years/5 years/7 years/10 years).

An investor may invest any sum equal to or above BDT 1,000.

ICL will charge 1.5-2% per annum on a quarterly basis on total fund under management

Investor needs to submit the following documents during subscription of SIP:

1. Proof of Identity
a. National ID
b. Driving License
c. Passport

2. One copy of color photograph

3. One copy of color photograph of Nominee

4. Proof of Identity of Nominee

5. Fill up Auto debit authorization form

An eligible person (both individual and institution) can purchase whatever number of lots (10 units per lot) in a single or joint name at all time. The initial price of each unit is BDT 10.

Under SIP, there will be no minimum lot size. Based on the investment amount and available weekly NAV at that point of time, units will be credited to investor’s account. However, any fraction amount remaining will be converted when it sums up to one unit. The fractional amount will be kept as liability of the fund in a separate account head and will be adjusted with the next available investment amount. For example, if an investor invests BDT 3,000 at the time when the NAV of the fund is BDT 15.5 per unit, he/she will be credited 193 units initially. The remaining 0.55 units will be adjusted with the subsequent SIP payments and credited to the investors account when it sums up to one unit.

Investors can redeem or sell their subscribed or purchased units of mutual funds in SIP at their will at the redemption price announced by ICL. For surrendering units of mutual fundsin SIP, investors need to go to our corporate office/Transaction Agents during working days before 4.00 pm. ICL or Transaction Agent will help investors surrender units of mutual funds in SIP as per request. Please note that, the redemption price will be declared weekly based on the Net Asset Value (NAV) of the fund.

SIP investors can purchase units at 1% discount from weekly sales price/ weekly available NAV offered to investors who didn’t subscribe to SIP. For example, if an investor wants to purchase when the NAV of the fund is BDT 15.5 per unit, he/she will be able to purchase the fund at BDT 15.35 per unit.

Surrender price is the price that you receive on redeeming or surrendering each unit of mutual fund managed by ICL you own. This price is calculated weekly based on the Net Asset Value (NAV). However, if a SIP investor wants to terminate the SIP before two (2) years, 1% discount from the repurchase/ surrender price will be applicable on total accumulated invested amount on the date of cancellation of the scheme.

Any SIP investor will be benefitted by two types of income as return from the fund. The income opportunities are:

1. Dividend declared by the fund and

2.Capital Gain

The following organizations have been appointed to act as the selling agents of the mutual fund by the asset manager:

The asset manager in future may appoint other organizations as its agent or cancel any of the agents named above subject to approval of the Trustee and with due intimation to the BSEC. In addition to that, individuals will also be eligible to work as selling agent to be appointed by the Asset Manager as per সিকিউরিটিজ অ্যান্ড এক্সচেঞ্জ কমিশন (মিউচ্যুয়াল ফান্ড) বিধিমালা, ২০০১.

1.1 ADDRESS OF THE SELLING AGENTS

 BRAC EPL Stock Brokerage Ltd: