Capitec Grameen Bank Growth Fund

Capitec Grameen Bank Growth Fund

Capitec Grameen Bank Growth Fund is a close-end mutual fund. The fund sponsored by Grameen Bank and managed by Capitec Asset Management Ltd. The Trustee and Custodian of the fund is Investment Corporation of Bangladesh. The fund seeks to achive its investment objective by investing in diverse asset classes in Bangladeshi market to genarate returns.

FUND SUMMARY
Feature Description
Fund Name Capitec Grameen Bank Growth Fund
Type Close-End Mutual Fund
Size of the Fund Tk. 1,556,800,000 (One Hundred Fifty Five Crore Sixty Eight Lac) only divided into 155,680,000 units at par value of Tk. 10.00 each.
Nature Close-End Mutual Fund of 10 (Ten) years tenure. The Fund may be redeemed on its pre-determined maturity at the end of the tenth year, but the Fund can be converted into the Open-End Scheme by taking the acceptance proposal of conversion as per BSEC rule and subject to approval of the Commission.
Sponsor Grameen Bank
Trustee Investment Corporation of Bangladesh (ICB)
Custodian Investment Corporation of Bangladesh (ICB)
Asset Manager Capitec Asset Management Limited
Face Value Tk. 10.00 (Ten) per unit
Objective The objective of the Capitec Grameen Bank Growth Fund is to generate risk adjusted return in the forms of capital appreciation, dividend income and to provide attractive dividend payments to the unit holders by investing the fund in authorized instruments of capital market and money market.
Prospective Investors Individuals, Institutions, Non-resident Bangladeshi (NRB), Mutual Funds and Collective Investment Schemes are eligible to invest in this Fund.
Dividend Policy

The Fund as soon as may be, after the closing of the annual accounts, declare and distribute dividend if any, to the unit holders in accordance with the বিধিমালা।
Being a “Growth Scheme” in nature, the Fund shall distribute at least 50 (Fifty) percent of the total net profit earned in the respective year or as determined by the Commission from time to time.
The Fund shall create a dividend equalization reserve by suitable appropriation from the income of the Fund to ensure consistency in dividend.

Mode of Distribution of Dividend The dividend shall be distributed within 45 (Forty-Five) days from the date of declaration.
Transferability Units are transferable. The transfer shall be made by the CDBL under electronic settlement process.
Encashment The Fund shall be listed with Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange PLC. So, investment in this Fund shall easily be en-cashable.
Tax Benefit

Income shall be tax free up to a certain level, which is permitted as per Income Tax Ordinance 1984.
Investment in the Fund would qualify for investment tax credit under section 44(2) of the Income Tax Ordinance 1984. Gain Tax is fully exempted according to SRO no. 196-Law/Income tax/2015 dated 30 June 2015 of National Board of Revenue.

Report & Accounts Every unit holder is entitled to receive Annual Report together with the yearly and half-yearly statements of accounts as and when published.
Historical Fund Performance
PORTFOLIO
FINANCIAL STATEMENT
FORMS
DOCUMENTS
DIVIDEND HISTORY
Fund Name Year Closing Dividend(%) Remarks
Capitec Grameen Bank Growth Fund 2023-2024 No Dividend