EBL AML 1st Unit Fund
About EBL AML 1st Unit Fund
EBL Asset Management Limited (Asset Management Company) launched its first open-ended mutual fund, namely EBL AML 1st Unit Fund with an initial fund size of BDT 300 million. EBL Asset Management Limited is both the sponsor and the asset manager of this fund, whereas ICB Capital Management Limited acting as a trustee and also undertakes the custodian role of the fund. This is a ‘continuous offer’ fund by nature, which facilitates the investors to subscribe and redeem units at their will. The Fund is always ready to offer electronic (online) purchases and repurchases process considering the convenience of the investors.
Features | Description |
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Name | EBL AML 1st Unit Fund |
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Type | Open End Mutual Fund |
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Life and Size of the Fund | Perpetual Life and Unlimited Size |
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Sponsor | EBL Asset Management Limited |
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Asset Manager | EBL Asset Management Limited |
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Trustee | ICB Capital Management Limited |
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Custodian | ICB Capital Management Limited |
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Initial Size of the Fund | Tk. 30,00,00,000 (Taka Thirty Crore) divided into 3,00,00,000 (Three Crore) Units of Tk.10 (Taka Ten) each |
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Approved Size of the Fund | Tk. 40,00,00,000 (Taka Forty Crore) divided into 4,00,00,000 (Four Crore) Units of Tk. 10 (Taka Ten) each |
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Face Value | Tk.10 (Taka ten) per Unit |
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Objective | The objective of the EBL AML 1st Unit Fund is to achieve superior risk adjusted return in the forms of capital appreciation, dividend, interest income and to provide attractive dividend payments to the unit holders by investing the fund in instruments of capital market, money market etc. |
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Minimum Application amount | Tk.5,000 per application (500 Units) for individuals. Tk.50,000 per application (5,000 Units) for institutions. |
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Transparency | NAV will be calculated on a weekly basis and shall be published on the web-site of the Fund manager “www.eblaml.com” and as prescribed in the Rule. |
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Target Group | Individuals–both resident and non-resident, institutions–both local and foreign, mutual funds and collective investment schemes are eligible to subscribe the Units of the fund. |
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Dividend | Minimum 70 (seventy) percent of realized income of the Fund will be distributed as dividend in Bangladeshi Taka in each accounting year. |
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Dividend Distribution | The dividend warrant will be distributed within 45 (forty-five) days from the date of declaration. |
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Tax Benefit | Income will be tax free up to certain level, which is permitted as per finance act. Investment in the fund would qualify for investment tax credit under section 44 (2) of the Income Tax Ordinance 1984. Details regarding this tax benefit has discussed in the Section 2.5 and Section 7.3 of this prospectus. |
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Encashment | The Unit holders can surrender and encash their Units to the Asset Manager and through the authorized selling agents appointed by the Asset Manager. The Asset Manager or selling agents shall be liable to re-purchase the units on behalf of Fund. |
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Transferability | The Units of the Fund are transferable by way of inheritance/ gift and/ or by specific operation of the law. |
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Prospectus, Reports and Accounts | Every Unit holder is entitled to receive annual report along with the yearly and half-yearly statements of accounts as and when published on the asset management company’s website ‘www.eblaml.com’. |
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Analyzing the risk profile and identifying main objectives of the investors
Planning the fund alternatives in various investment vehicle
Strategically implementing the fund’s portfolio
Evaluating the portfolio using different technical methods
Rebalancing the portfolio when needed