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The sales of the units of VIPB Growth Fund, an open-end mutual fund, will begin from March 11, aiming to raise Tk 180 million.
The sales of units of the fund will continue for next 45 working days.
The securities’ regulator -- Bangladesh Securities and Exchange Commission (BSEC) -- approved the prospectus of VIPB Growth Fund on February 6.
As per the BSEC approval, the initial size of the VIPB Growth Fund will be Tk 200 million.
Of Tk 200 million, Tk 180 million will be raised through selling units of the fund.
VIPB Asset Management Company, the sponsor and fund manager of the VIPB Growth Fund, will contribute the remaining Tk 20 million.
The face value of the units of the VIPB Growth Fund will be Tk 10 each.
Sandhani Life Insurance Company is the trustee of the VIPB Growth Fund, while BRAC Bank is the custodian of the fund, according to BSEC information.