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Reliance First Mutual Fund

Features

Description

Fund name

Reliance Insurance Mutual Fund

Scheme name

Reliance One

Scheme size

Tk550,000,000 (Taka five hundred fifty million) divided into 55,000,000 (fifty five million) units at par value of Tk10 each

Face value

Tk10 of one unit each

Nature

Close-end Balanced Growth Scheme with initial tenure of 10 years

Objective

To achieve capital appreciation as well as earn dividend and interest income and build up reserves

Target investors

Individuals, companies, trusts, societies/foundations, registered mutual funds and NRBs are eligible to apply for investing in the Scheme

Target amount

Tk550 million including contribution of Sponsor and private placement

Dividend

Being a ‘Growth Scheme’, the Scheme shall distribute at least 50% of the ‘Annual Income’[1] of the Scheme, as dividend, at the end of each accounting year, net of provisions. Dividend warrants will be dispatched within 30 working days from the record date of such dividends

Transferability

Units are freely transferable; the transfer will be made by the CDBL under electronic settlement system

Tax exemption

Investment in the Scheme by an individual assessee will qualify for investment tax credit under Section- 44(2) of the Income Tax Ordinance, 1984, besides, dividend, interest and capital gains of the Scheme shall be fully tax‑exempt under the Sixth Schedule, Part A, Para-30 of the Income Tax Ordinance, 1984

Accounts and information

The unitholders of the Scheme are entitled to receive the audited Annual Reports of the Scheme together with the yearly & half-yearly statements in addition to the weekly publication of the NAV of the Scheme in the newspapers and online at the Stock Exchanges

 

[1]Before deriving the annual distributable income and declaring dividend, the Scheme shall provide for future depreciation on investments and appropriate provision for bad and doubtful investments to the satisfaction of the Auditors and shall also create a sufficient Dividend Equalization Reserve by appropriation from the income of the Scheme.

*** Re-Investment Units

Prospectus
Trust Deed