Grameen Bank-AIMS First Unit Fund
Micro-Savers Special Purpose Growth Scheme
Initial Scheme size
Initial intended size of the Scheme is Tk1,575,000,000 (Taka one billion five hundred seventy five million) only divided into Initial 157,500,000 (One hundred fifty seven million five hundred Intended Size | thousand) units of Tk10 each. The Sponsor of the Fund has provided Tk1,000,000,000 (Taka one billion) as capital of the Scheme.
Tk10 of one unit each
Open-ended Balanced Special Purpose Growth Scheme
Promote Financial Inclusion by integrating micro & small savers with the formal capital market with a view to creating wealth for the future through capital appreciation as well as earn dividend and interest income and building up reserves.
Root level small and micro savers, members of Grameen Bank or any such institutions in particular, local and non-resident individuals, companies, trusts, societies, foundations, firms, collective investment schemes and superannuation, pension, provident or gratuity funds.
It is designed for those who seck wealth creation in the medium to long-term with also an annual dividend stream in a conservative approach. The Scheme will not be appropriate for short term speculative investors, who are discouraged to apply.
Intial Public Subsription
Tk362,000,000 (Taka three hundred sixty two million) divided into 36,200,000 (Thirty six million two hundred thousand) units at par value of Tk10 each.
45 (forty five) days.
Minimum Unit Subscription
Applicants (individual or institutional) may subscribe for any number of units of Tk10 each at face value with minimum 500 units or multiples thereof.
Being a ‘Growth Scheme’, it shall distribute at least 50% of the ‘Annual Income’! of the Scheme as dividend at the end of each accounting year, net of provisions.
Redemption & Transfer
Units are freely redeemable, subject to a 90-days moratorium; the surrender will be made effective by the CDBL under electronic settlement system. Also the units are transferable by way of inheritance/gift and/or succession.
Investment in the Scheme by an individual assessee will qualify for investment tax credit under Section-44(2) of the Income Tax Ordinance, 1984, Income from the Scheme shall be tax-exempt up to a certain level under the Sixth Schedule, Part-A of the ordinance. However, the Finance Act and Tax Policies adopted by the Government shall always determine the tax benefits from investment in mutual funds, which may vary.
Accounts & Information
Unitholders shall receive annual report and abridged audited accounts of the Scheme either in electronic form via e-mail or hard copy by post. Complete annual accounts and audit report and the quarterly reports shall be posted on the website of AIMS. Periodic reports shall be published on newspapers and/or online portals in abridged versions. Unitholders shall also be informed of the Net Asset Value (NAV) at market value and the buy and sale prices of the units on a daily basis from the website of AIMS and the Mobile App and FaceBook Business Page of the Fund. These would also be published on a weekly or fortnightly basis and also be made available with and at the premises of the Agent Banks and other Selling Agents as well as through bulk masked SMS or e-mail.
Cumulative Investment Plan (CIP)
Under the plan, unitholders may reinvest cash dividend income accrued thereon for purchasing unit at a NAV at market value based price instead of cash dividend, where new units would be issued at the applicable “Sale Price’ on the ex-dividend date, net of any applicable taxes.
Systematic Investment Plan (SIP)
Systematic Investment Plan (SIP) allows investor to invest a certain pre-determined amount at a regular interval. It is an approach towards investments and helps to cultivate the habit of saving and accumulate wealth for the future. Small and micro. savers may start the plan with a very small amount of Tk100 per month and general investor with Tk1,000 per month only.
Post IPO Subscription
Investors can subscribe for any number of units of Tk10 each with minimum 500 units or multiples thereof from the reopening of the subscriptions after the closure of the initial subscription period.
Post IPO/Buy Price
The subscription will be at the latest announced Sale Price based on NAV per unit at market value.
The redemption will be at the latest announced Redemption/Surrender Price based on NAV per unit at market, subject to applicable exit load.
Front & Exit Load
Currently there is no front load to be charged on purchase of the units. 0%-1% exit load will be charged based on the holding period of investment.