UFS-BANK ASIA UNIT FUND

UFS-BANK ASIA UNIT FUND
Name
UFS-BANK ASIA UNIT FUND
Type
Open-End Mutual fund
Life and Size of the Fund
Perpetual life and unlimited size
Sponsor
Bank Asia Limited
Asset Manager
Universal Financial Solutions Limited (UFS)
Trustee
Investment Corporation of Bangladesh (ICB)
Custodian
Investment Corporation of Bangladesh (ICB)
Initial Size of the Fund
 
Tk. 100,00,00,000 (Taka one hundred crore) divided into 10,00,00,000 (Ten crore) Units of Tk.10 (Taka ten)each
Face Value
Tk.10 (Taka ten) per Unit
Nature
Open end Mutual Fund with unlimited size.
Objective



The objective of the UFS-Bank Asia Unit Fund is to achieve superior risk adjusted return in forms of capital appreciation, dividend, interest income and to provide attractive dividend payments to the unit holders by investing the fund in instruments of capital market, money market etc.
Minimum Application Amount
 
Tk.5,000/- per application (500 Units) for individuals.
Tk.50,000/- per application (5,000 Units) for institutions.
Not Applicable for SIP investors
Transparency
 
 
NAV will be calculated on a weekly basis and shall be published on the website of the Fund manager (www.ufslbd.com) and as prescribed in the Rule
Target Group
 
 
Individuals –both resident and non-resident, institutions–both local and foreign, mutual funds and collective investment schemes are eligible to subscribe the Units of the Fund.
Dividend

Minimum 70 (seventy) percent of realized income of the Fund will be distributed as dividend in Bangladeshi Taka in each accounting year.
Dividend Distribution
 
The dividend warrant will be distributed within 45 (forty-five) days from the date of declaration.
Transferability
 
The Units of the Fund are transferable by way of inheritance/ gift and/ or by specific operation of the law.
Encashment


The Unit holders can surrender their units through the Asset Manager and through the Selling Agents appointed by the Asset Manager. So, investment in the Fund will be easily encashable.
Systematic Investment Plan (SIP) Facility



Systematic Investment Plan or SIP allows investor to invest a certain pre-determined amount at a regular interval (monthly, quarterly, yearly etc.). A SIP is a planned approach towards investments and helps to inculcate the habit of saving and building wealth for the future. Investor can start SIP with a very small amount that is minimum BDT. 1000.
Prospectus, Reports and Accounts



Any investors can find the Prospectus at the AMC’s website i.e. www.ufslbd.com. Every unit holder is entitled to receive annual report along with the yearly and half-yearly statements of accounts as and when published from the website (www.ufslbd.com). Every unit holders will also get quarterly statements of portfolio in UFS’s official website.
Tax Benefit



a) Income from a mutual fund or a unit fund up to tk. 25,000.00 (Twenty-Five Thousand) is exempted from tax under Income Tax Ordinance 1984.
b) Investment in the Unit Fund would qualify for investment tax credit under section 44(2) of the Income Tax Ordinance, 1984 which is explained in detail in the section 2.4 of this the prospectus.