The securities regulator has approved the draft prospectus of Esquire ICL Apparel Fund, an open-end mutual 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 250 million, of which Tk 100 million will be contributed by the sponsor.
The remaining Tk 150 million will be collected through sales of units. The face value of the units of the fund will be Tk 10 each.
Esquire Knit Composite is the sponsor of the fund, while Impress Capital is the fund manager.
Investment Corporation of Bangladesh (ICB) and BRAC Bank are working as trustee and custodian of the fund respectively.
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