The stock market regulator has approved a draft prospectus of the open-end RBIMCO BGFI fund.
The initial target fund size is Tk10 crore and the per-unit value is Tk10.
As a sponsor of the fund, Royal Bengal Investment Management Company will provide Tk1 crore and the remaining Tk9 crore will be open for general investors.
Royal Bengal Investment Management is the fund manager, the trustee is Bangladesh General Insurance Company Limited, and the custodian is Brac Bank Limited.
The Bangladesh Securities and Exchange Commission (BSEC) approved the fund at a meeting on Thursday, with BSEC Chairman Shibli Rubayat-Ul-Islam in the chair, read a press release.