Green Delta Dragon Growth Fund gets go-ahead
The mutual fund will be worth Tk 50 crore
The Bangladesh Securities and Exchange Commission has given go-ahead to the open-ended mutual fund named Green Delta Dragon Enhanced Blue Chip Growth Fund worth Tk 50 crore.
Of the fund, Green Delta Insurance and Dragon Capital Markets jointly provided Tk 5 crore and the rest is open for sell for the general investors.
Price of each unit of the fund is Tk 10.
Mutual funds pool money from investors to channel it into securities such as stocks, bonds, and other assets. Depending on the profits earned, investors are then paid their share as dividends.
Open-ended mutual funds are not listed with the stock market but one can buy them from a fund manager's office on the basis of its net asset value.
Similarly, investors can sell off fund units at any time at prices based on its current net asset value.
The approval for the mutual fund came from the BSEC's meeting held in its head office in the capital today.
The Green Delta Dragon Asset Management Company will be the manager of the fund while Bangladesh General Insurance Company and Brac Bank will be its trustee and custodian respectively.