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The securities regulator has approved the draft prospectus of CAPIEC Popular Life P.F. Unit Fund.
The approval came Tuesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).
The initial size of the fund will be Tk 100 million. The sponsor will contribute Tk 10 million, while remaining Tk 90 million will be collected through sales of units.
Popular Life Insurance Company Limited Employees Provident Fund is the sponsor of the unit fund. CAPITEC Asset Management will work as fund manager.
Investment Corporation of Bangladesh (ICB) is both trustee and custodian of the unit fund whose draft prospectus was approved on Tuesday.