Shanta Fixed Income Fund approved of draft prospectus

The capital market regulator Bangladesh Securities and Exchange Commission (BSEC) has approved the draft prospectus of the non-term mutual fund Shanta Fixed Income Fund.

The approval was given at the 779th meeting of the BSEC on Wednesday. This information has been given in a press release signed by BSEC Executive Director (Current Responsibilities) and Spokesperson Mohammad Rezaul Karim.

It is learned that the initial target of the fund is Tk 10 crore. As an entrepreneur of the fund, Shanta Asset Management Limited will provide Rs 1 crore and the remaining Rs 9 crore will be open to general investors. The face value of the fund is Rs. 10 per unit.

Shanta Asset Management Limited is the entrepreneur and asset manager of the fund. Besides, Bangladesh General Insurance Company Limited and BRAC Bank Limited are acting as trustees and custodians of the fund respectively.

Sunbd/NJ