Capital Market Stabilization Fund (CMSF) will launch "ICB AMCL CMSF Golden Jubilee Mutual Fund", a closed-end mutual fund with unit face value of BDT 10.
The size of the fund is BDT 1.0 billion, said a statement.
BSEC Thursday approved the draft Trust Deed and Investment Management Agreement of the Fund.
ICB AMCL is the 'Fund Manager', BRAC Bank Limited 'Custodian' and BGIC is the 'Trustee' of the Fund.
As per the Rule, CMSF acts as a custodian of cash and stocks in favor of the investors as received by transferring unclaimed and undistributed cash or stock dividend, non-refunded public subscription money, and un-allotted rights shares from the issuer of listed securities. Cash or stock deposited in the fund will be paid or settled on due claims by the shareholders or investors at any time.