ICB Asset Management Company Limited

ICB AMCL ISLAMIC M U T U A L F U N D

Highlights

Formation

Hightlights

	A closed end Mutual Fund of 10 (ten) years tenure operating under Shariah Law.
	Certificates are being transacted in the bourses. Anybody can transact the certificates in the bourses through designated broker.
	The income is tax free to a certain level in the hands of the investors. Moreover, the individual investor will get tax credit as per Income Tax Ordinance, 1984.
	Size of the Fund is Tk. 10.00 crore. The units are transferable.

Investment Objective and Strategy

The scheme has been designed to provide interest free return to the investors by investing the fund only in Shariah Compliant instruments .

How to Transact

The initial offering of the units was made on 9 th June, 2003. The issue was over subscribed by over 48%. The units were issued on 1 September, 2003. The trading of the units started on 1 st October, 2003 in Dhaka Stock Exchange and Chittangong Stock Exchange. Any investor can transact the certificates in the bourses through designated broker.

Net Asset Value Determination

The Net Asset Value (NAV) per unit of the Fund is determined on weekly basis by dividing the net asset value of the fund by the total number of units issued. The Net Asset of the fund is calculated by excluding the total liabilities from the total assets of the Fund. The securities are valued as per criteria approved by the Securities & Exchange Commission and as per rule 58 of the Securities and Exchange Commission (Mutual fund) Rules 2001. The Net Asset Value of the fund is disclosed once in a month in the newspaper and the daily news of the bourses.

Right of the Unit Holders

Dividend :
Minimum 80% net income of the fund will be distributed as dividend. All the unit holders have equal but proportionate right in respect of dividend .

Exemption from Tax :
Dividend income is tax-free up to Tk. 25000.00. Investment in the fund by an individual assesse will qualify for tax credit under section 44(2) of the Income Tax ordinance, 1984 .

Transfer of Units :
Units are transferable by way of inheritance/gift and or by specific operation of law .