• ICL Balanced Fund

    An open-end Mutual Fund, a standardized product for both individuals and institutions, that invests in listed companies and fixed income securities, to strike a balance between future growth in investment and regular income for the investors.

    ICL Balanced Fund

    • Minimum Investment
      • 100 Units for Individuals, 10,000 Units for Institutions.
    • Investment Objective
      • To generate regular income (dividend) and growth of the investment (capital gain).
    • Investment Horizon
      • The fund is perpetual in nature; an investor may expect a higher risk-adjusted return if his/her investment horizon is at least 3 years to 5 years. However, investor has the flexibility to liquidate his/her investment anytime at Net Asset Value per unit (NAVPU) with 7 days of notice period.
    • Reporting Procedure
      • Net Asset Value (NAV) of the Fund is uploaded at the website on a weekly basis.
      • Portfolio Statement of the fund is uploaded at the website on a quarterly basis.
      • Un-Audited quarterly/half-yearly reports is uploaded at the website on a quarterly/half-yearly basis.
      • Audited Reports is uploaded at the website on an annual basis.
      • Annual “Letter to the Investors” to describe the overall situation of the year under review.
    • Suitability
      • Individual and Institutional investors looking for higher risk-adjusted return over Fixed Income return.
      • Average Ability and Willingness to assume risk (Risk-Tolerance) of equity investments.
      • Do not have time and/or expertise to manage equity investments.
    • Professional Investment Management
      • ‘Long Only’ Investment Positioning based on Investment objectives, Investment Research and Capital Market Expectations.
      • Subsequent Monitoring and Rebalancing to accommodate changing equity environment tailoring Investment objectives.
    • Sector Allocation & Security Selection
      • The fund invests based on thorough rigorous research and intend to make optimum allocation to generate regular income and long-term growth in value through capital gain.
      • The fund invests at least 60% in listed equity instruments of capital market, and the rest of the fund is invested in fixed income, IPOs and cash based on opportunities in the market.
      • Security Allocation: Not more than 10% of the fund size shall be invested in any single stock.
      • Sector Allocation: Not more than 25% of the fund size shall be invested in any single sector.
    • Investment Risk

      • Investment risk is relatively higher due to equity orientation in comparison to Fixed Income. However, this results into a higher risk-adjusted return, in the long term, as well. In addition, risk is kept in control with the following steps taken upfront at ICL,

      • Long Time Orientation
      • Professional Investment Management
      • Investment Research
      • Corporate Governance
      • Ethical Standard
    • Dividend Policy
      • The Fund shall distribute minimum 70%, or as may be determined by the Rules from time to time, of the annual net income of the fund as dividend at the end of each accounting period after making provision for bad and doubtful investments.
      • The fund may also declare dividend on semiannual or quarterly basis.
      • Dividends will be dispatched within 45 days from the declaration of such dividends.
    Quarterly Financial Statements:
    Half Yearly Financial Statements:
    Annual Financial Statements:
    Quarterly Portfolio Statements:
    Half Yearly Portfolio Statements:

    HISTORICAL NET ASSET VALUE (NAV) PER UNIT

    • 1 All amounts are in BDT
    • 2 Trustee committee has approved cash dividend of BDT 0.50 per unit for the year ended June 30, 2017. Record Date: August 10, 2017.
    • 3 Unit Buy/Sell of ICL Balanced Fund shall remain closed during the period due to book closure.
    • 4 Adjusted NAV after provisioning dividend for FY 2017-18. Trustee committee has approved cash dividend of BDT 0.80 per unit for the year ended June 30, 2018. Recored Date June 30, 2018.

    DIVIDEND POLICY


    • The Fund shall distribute minimum 70%, or as may be determined by the rules from time to time, of the annual net income of the fund as dividend at the end of each accounting period after making provision for bad and doubtful investments.

    • The fund may also declare dividend on semiannual or quarterly basis.

    • Dividends will be dispatched within 45 days from the declaration of such dividends.


    Investors of the ICL Balanced Fund will enjoy both Dividend Income and Capital Gain.

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      • ICL Balanced Fund is an open-end Mutual Fund in the Mutual Fund industry of Bangladesh. It is the first digitized open-end mutual fund in Bangladesh whose subscription/buy and redemption/sell of units will be performed through a dedicated online based trading system.

        ICL Balanced Fund is open-end mutual fund in real sense; it can be bought and sold at any time at investors’ will. As an open-end fund it is generously characterized with no fixed size and life (tenure).

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

        Bangladesh General Insurance Company Limited (BGIC) is the Trustee of ICL Balanced Fund. As Trustee of the fund BGIC will supervise and monitor all activities of the ICL Balanced Fund.

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

      • Unit is the legal certificate of your investments with us. Initial Buy price per unit is BDT 10; for an investment of BDT 1000 then we will issue 100 units.

      • 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 formulae will be used to determine the Fund’s Per Unit NAV:

        Total NAV = VA – LT

        NAV per unit = Total NAV / No. of units outstanding

        VA =

        Value of all securities in vault

        +

        Value of all securities placed in lien

        +

        Cash in hand and at bank

        +

        Value of all securities receivables

        +

        Receivables of proceeds of sale of investments

        +

        Dividend receivables net of tax

        +

        Interest receivables net of tax

        +

        Issue expenses amortized as on date

        +

        Printing, publication and stationery expenses amortized as on date

        LT =

        Value of all securities payable

        +

        Payable against purchase of investments

        +

        Payable as brokerage and custodial charges

        +

        Payable as Trustee fees

        +

        All other payable related to printing, publication and stationery

        +

        Accrued deferred expenses with regard to management fee, annual fee, audit fee and safe keeping fee.

      • ICL Balanced Fund will publish the NAV of the fund on Sunday every week.

      • Investors can subscribe/purchase the units of ICL Balanced Fund through the Impress Capital Limited (ICL) or designated Transaction Agents (TA). To learn more about subscription please visit How to Invest Section ICL Balanced Fund under Products tab 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.

      • 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 ICL Balanced Fund:

        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

      • 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 investors of ICL Balanced Fund will be provided with an electronic certificate against each successful transaction.

      • Investors can redeem or sell their subscribed or purchased units of ICL Balanced Fund at their will at the redemption price announced by ICL. For surrendering units of ICL Balanced Fund 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 ICL Balanced Fund as per request. Please note that, the redemption price will be declared weekly based on the Net Asset Value (NAV) of the fund.

      • Surrender price is the price that you receive on redeeming or surrendering each unit of ICL Balanced 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 ICL Balanced Fund 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

      • Summary of annual report & accounts of the Fund is published in daily newspaper and ICL Website. An investor can collect the detailed report & accounts from ICL Office.

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

        Sl. No.

        Name of Selling Agents

        Type of Service

        1

        BRAC EPL Stock Brokerage Ltd

        Brokerage Service

        2

        Commerce Bank Securities and Investment Limited

        Brokerage Service



        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:


        1

        Head Office
        WW Tower (Level 8), 68 Motijheel, C/A Dhaka 1000 
        Tel: +880 2 9514721-30, Ext-124, Mob: +880 01709641241

        2

        Gulshan Branch
        Symphony (3rd Floor), Plot No.S.E.(F)-9, Road No 142, Gulshan 1, Dhaka 1212 
        Tel: +880 2 9852446-50, Ext-101, Mob: +88 017303152881

        3

        Motijheel Branch
        Suite: 1001-3, (9th Floor), DSE Annex Building, 9/E Motijheel C/A, Dhaka 1000 
        Tel: +880 2 9567663, +880 2 9562254, +880 2 9567544, Mob: +88 01730357992

        4

        Dhanmondi Branch
        Concord Royal Court, Road 27, Dhanmondi, Dhaka 1209
        Tel: +880 2 9119272, Ext- 101 Mob: +880 1730727935

        5

        Comilla Branch
        35/32 (3rd Floor), Zilla School Road, Monohorpur, Kandirpar, Comilla 3500
        Tel: +88 081-60002-6 Ext- 101, Mob: +88 01730357993

        6

        Chittagong Branch 
        Ayub Trade Center (8th floor), 1269/B, SK Mujib Road, Agrabad C/A, Chittagong 4100 
        Tel: +88 031 2512908-12, EXT-111, Mob: +88 01730357987

        7

        Sylhet Branch
        Firoz Tower (2nd Floor), 89/Ka, Chowhatta, Sylhet 3100
        Tel: +88 0821-728209, Ext- 10, Mob: +88 01730727928

        8

        Noakhali Branch
        Morshed Alam Complex, Level- 4, Rail Gate, Chowmuhani, Noakhali 3821
        Tel: 0321-53318, Ext- 101, Mob: 01730315281



         Commerce Bank Securities and Investment Limited:


        1

        Head Office
        Taranga Complex (2nd Floor), 19, Rajuk Avenue, Motijheel, Dhaka 1000 
        Tel: +880 2 9585023-24, 09613222005, 09613222006

        2

        Head Office (Ext-1)
        16, Dilkusha C/A, Baliadi Mansion, Motijheel C/A, Dhaka 1000
        Tel: +880 2 9563105, 09613225005

        3

        Head Office (Ext-2)
        Surma Tower (1st Floor), 59/2, Purana Paltan, Dhaka 1000
        Tel: +880 2 9581582, 09613223605

        4

        Green Road Branch
        75, Green Road, Hossain Tower, Farmgate, Dhaka 1215
        Tel: +880 2 9134616, 09613221405

        5

        Gulshan Branch
        Land View Commercial Center (2nd Floor), 28, Gulshan North C/A Gulshan Circle 2, Dhaka 1212 
        Tel: +880 2 8881006, 09613227005

        6

        Narayanganj Branch 
        Tokio Plaza 1, 69, Bangabondhu Road, (D.I.T) Narayanganj 
        Tel: +880 2 7644887, 09613229005

        7

        Muradpur Branch
        Holding no. 7/8, Muradpur, Hathazari Road, Police Station: Panchlaish, Chittagong
        Tel: +880 2 031-2867222, 09613223090

        8

        Agrabad Branch
        56, Agrabad C/A, Jiban Bima Bhaban, Chittagong 4000
        Tel: +880 2 031-726007, 09613226005

    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.
    SUITABILITY
    Any individual investor with a BO account can invest through SIP, after considering his/her risk objectives and risk tolerance.
    BENEFITS
    A. Flexibility & Affordability:
    SIP offers a systematic approach towards investment by allowing unit holders to invest multiple of BDT 1,000 by mentioning pre-determined amount for a specified period.

    B. Flexible Tenor:
    An investor can invest in the plan with an investment horizon of 2 years/3 years/5 years/10 years. Although, it is encouraged to continue SIP investments with a long-term perspective, there is no compulsion. Investors can discontinue the plan at any time after satisfying all the terms and conditions described in ‘Surrender Process’ which is discussed later.

    C. No Minimum Lot Size:
    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.

    D. Cost Averaging:
    SIP scheme can help the investors to be benefited from cost averaging. Due to investments made in regular intervals, investors can by more units in bearish market and less units when the market is bullish. This is particularly helpful for retail investors because they can avoid investing larger sums in bull market and smaller sums in bear market.

    E. Discounted Purchase:
    SIP investors can purchase units at 1% discount from weekly sales price offered to investors who didn’t subscribe to SIP.

    F. CIP option for SIP Investment:
    SIP investors can enjoy cash dividend or Cumulative Investment Plan (CIP) where, the new units of the fund will be allotted to the investors which will be equivalent to the cash dividend.

    G. Tax Benefits:
    i. Dividend income from SIP investment is tax exempted up to BDT 25,000 under Income Tax Ordinance 1984.
    ii. At maturity of SIP Investment, Capital Gain is tax exempted for individual SIP investors.
    iii. Investment in the Fund will provide the same tax exemptions as investments which qualifies under section 44(2) of the Income Tax Ordinance, 1984.
    INVESTMENT HORIZON
    An investor can invest in the plan with an investment horizon of 2 years/3 years/5 years/10 years with the choice of a pre-determined amount to investment at a regular interval (monthly/quarterly/semi-annually/annually). At maturity, the investor may surrender or continue with existing/new plan.
    FORMS

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