The Capital & Asset Portfolio Management (CAPM) Unit Fund is going to start selling its unit from Mar 19.
It is Bangladesh’s first digitalised ‘open-ended’ mutual fund in which buying and selling will be performed through a dedicated online based trading system, says a media release.
Its target is to collect Tk 100 million, half of them will be collected in this offering period until May 2.
The face value of the fund is Tk 100 per unit and there will be 10 units in each lot.
Individual will be able to buy one or more lots at a time while institutional investors will have to buy minimum of 10 lots in each transaction.
They will get digitally signed unit holding certificates, it says.
To increase convenience for the investors, CAPM says, the fund has also integrated modern banking, SMS and online based services.
The investors of the fund will be able to surrender and redeem the units of the fund in any of the two ways –through a brief visits at any transaction agents or through logging into the website of the asset manager: www.capmbd.com.
Of the many benefits, it says, the investors of the fund will be entitled to cash dividend and there will be dividend reinvestment options through Cumulative Investment Plan (CIP).
They will enjoy 15 percent tax rebate benefit on the investment amount up to 30 percent of income or Tk 15 million, whichever is lower.
Also, the dividend income from the fund is tax exempted up to Tk 25,000, it says.
Source: bdnews24
