The Bangladesh Securities and Exchange Commission (BSEC) on Thursday approved the draft prospectus of two open-ended funds with a target of Tk20 crore.
The funds are Joytun First Unit Fund and LankaBangla Gratuity Wealth Builder Fund.
The target of the LankaBangla gratuity Wealth Builder Fund is Tk10 crore, of which Lanka Bangla Finance Limited Employees Gratuity Fund Trust, as an entrepreneur, will provide Tk2 crore. The remaining Tk8 crore will be open to general investors.
The price of each unit of the fund will be Tk10.
The asset managers of the fund are LankaBangla Asset Management Company and the Trustee Bangladesh General Insurance Company. Brac Bank Limited is acting as the custodian.
The target of Joytun First Unit Fund is Tk10 crore, of which Joytun Asset Management will provide Tk3 crore as the entrepreneur. The remaining Tk7 crore will be open to general investors.
The unit price of the fund will be Tk10. The fund will be managed by Joytun Asset Management and trustee and custodian will be ICB Capital Management Limited.