ICB Asset Management Company Ltd. (IAMCL)
BASIC FACTS
Background
ICB Asset Management Company Ltd. was created
as part of the restructuring programme of ICB under Capital
Market Development Programme (CMDP) initiated by the Government
of Bangladesh and the Asian Development Bank. The Company
was incorporated as a public limited company with an authorized
capital of Tk. 100 crore and a nominal paid up capital of
Tk. 2.00 lac, which was subsequently increased to Tk. 7.50
crore, under the Companies Act, 1994 with the Registrar of
Joint Stock Companies and Firms on December 05, 2000. The
Company obtained license on October 14, 2001 from the Securities
and Exchange Commission(SEC) under 
to carry out the mutual fund activities. The company started
its operation from July 01, 2002 upon issuance of Govt. gazette
notification.
Business
The company is engaged in investment management; more specifically
floating and managing both open-end and closed end mutual
funds, provident funds etc. The company is dedicated towards
development of mutual fund industry as well as the capital
market of Bangladesh.
Capital Structure
(Taka in Lacs)
| Particulars |
June 30, 2008 |
June 30, 2007 |
| Authorized Capital |
10000.00 |
10000.00 |
| Paid up Capital |
500.00 |
500.00 |
| Reserve |
740.00 |
490.00 |
| Retained Profit |
377.03 |
475.95 |
| Total |
1617.03 |
1465.95 |
MUTUAL FUNDS
ICB Asset Management Company Ltd. has so
far floated five closed-end mutual funds and two open-end
Mutual Funds through which the small and medium savers get
opportunities to invest their savings in a balanced and relatively
low risk portfolio. The aggregate size of these funds is around
Tk. 230.00 crore.
Closed-end Mutual Funds:
The closed-end mutual funds are, namely,
ICB AMCL First Mutual Fund of Tk. 10.00 crore, ICB AMCL Islamic
Mutual Fund of Tk. 10.00 crore and ICB AMCL First NRB Mutual
Fund of Tk. 10.00 crore, ICB AMCL Second NRB Mutual Fund of
Tk. 100.00 crore and Prime Finance First Mutual Fund of Tk.
20.00 crore. One can invest in the closed-end mutual funds
through the stock exchanges. Islamic mutual fund is a specialized
mutual fund. The business of the fund should be in consistence
with the Sharia` Law. With a view to tapping the savings of
Non-Resident Bangladeshis (NRBs) for investment in the country’s
capital market ICB Asset Management Company Ltd. launched
ICB AMCL First NRB Mutual Fund and ICB AMCL Second NRB Mutual
Fund. These funds received spectacular response from the investors.
The Company plans to launch another specialized closed-end
mutual fund for NRBs named ICB AMCL Third NRB Mutual Fund
of Tk. 100.00 crore and convensional Mutual Fund named ICB
AMCL Second Mutual Fund of Tk. 50.00 crore which is under
active consideration of SEC.
Open-end Mutual Funds:
The open-end mutual funds are, namely, ICB
AMCL Unit Fund of Tk. 70.00 crore and ICB AMCL pension Holders'
Unit Fund of initial capital of Tk. 10.00 Crore. Investors
have shown overwhelming interest in all the mutual funds.
ICB AMCL Unit Certificates and ICB AMCL pension Holders' Unit
Certificates are sold and repurchased on the counters of ICB
AMCL Head Office and the branch Offices of ICB. ICB AMCL pension
Holders' Unit Certificates are sold exclusively to the retired
pension holders. ICB extends loan facility against lien of
units. Some other banks and financial institution also extends
loan facility against lien of units.
Web site: http://www.icbamcl.com.bd
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