ICB moots unit reserve to help financial exchange
Image collected
The Investment Corporation of Bangladesh (ICB) has made a transition to skim another open-finished common store to help the nation's focused on capital market.
The activity is a piece of its persistent market steady measures.
The state element has as of late presented a proposition, among others, to glide Unit Fund-2 to back clergyman.
As recommended, the underlying size of the store will be Tk 30 billion and ICB will be the reserve director.
Of the sum, Tk 10 billion will be gathered from backers, for example, banks and budgetary establishments.
The assumed worth of the units will be Tk 100 each.
"Capital market will get great help if the proposition for Unit Fund-2 is endorsed. The whole reserve will be contributed there," said ICB overseeing executive Md Abul Hossain.
After the 2010-11 securities exchange calamity, ICB had drifted the Bangladesh Fund with a proposed size of Tk 50 billion.
In any case, the reserve neglected to satisfy the objective inside a normal time allotment as certain foundations didn't offer help according to their responsibility.
To this end, Mr Hossain said the size of the Bangladesh Fund has crossed the Tk 17 billion imprint.
"The unit holders have so far gotten profits worth around Tk 8 billion from the reserve. Along these lines, the store's commitment isn't immaterial," he included.
The Bangladesh Fund is being overseen by the ICB Asset Management Company Ltd.
ICB has been dealing with the nation's biggest ever ICB Unit Fund whose estimated size is Tk 50 billion.
It was glided in April 1981 for preparing reserve funds through closeout of its units to little speculators and putting the assets in attractive protections.
Numerous senior residents have units of the most established unit finance, which has been appropriating rewarding profits quite a long time after year.
The closeout of the units, be that as it may, has been halted for long according to the state of an improvement understanding, marked with the Asian Development Bank.
ICB Unit Fund's current unit holders can offer their units to ICB, yet no one is permitted to purchase units of the reserve.
Rather than accepting profits, unit holders of the reserve are permitted to get CIP (aggregate venture plan) endorsements against their profits.
Tags :
Previous Story
- Bangladesh Bank refreshes BEFTN framework
- DBH 1st MF Liquidation: BSEC asks trustee to...
- 1.38cr people underemployed
- Banks slow to avail Bangladesh Bank fund for...
- Bangladesh second quickest developing economy in South Asia:...
- Gross domestic product development rate prone to reach...
- SEBL signs MoU with Hajj Finance
- 62pc Bangladeshi migrants unskilled