| Name of the Fund |
EDGE Al-Amin Shariah Consumer Fund |
| Nature |
Open end Mutual Fund with unlimited size |
| Life & size of the Fund |
Perpetual life and unlimited size |
| Sponsor & Asset Manager |
EDGE AMC Limited |
| Trustee |
Sandhani Life Insurance Company Limited |
| Custodian |
BRAC Bank Limited |
| Initial Size of the Fund |
Tk. 25,00,00,000 (Taka Twenty-Five Crore) divided into 2,50,00,000 (Two Crore Fifty Lakh) Units of Tk.10 (Taka Ten) each |
| Face value |
Tk. 10 (Taka Ten) per Unit |
| Objective |
To maximize risk-adjusted return for Unit-holders by strictly investing in a portfolio of Shariah-compliant securities issued by the government/ related issuers, consumer oriented corporate entities and NGOs based in Bangladesh. The Fund will invest in Shariah compliant common and preferred equities, initial public offerings (IPO), quasi-equity securities, debt securities and Shariah-compliant money market instruments and deposits. |
| Minimum Subscription |
Tk. 5,000/- per application (500 Units) for individuals
Tk. 50,000/- per application (5,000 Units) for institutions
Not Applicable for SIP investors |
| Transparency |
NAV will be calculated on a weekly basis and shall be published on the website of the Fund manager (www.EDGEAMC.com) and as prescribed in the Rule. |
| Target Group |
Individuals- both resident and non-resident, institutions- both local and foreign, mutual funds and collective investment schemes are eligible to subscribe the Units of the Fund. The Fund will be best suited for the Shariah compliant investors aiming to invest for longer term (ideally for more than 3 years) and have above-average risk-taking abilities and higher return expectation. |
| Dividend |
The Fund shall distribute minimum 70%, or as may be determined by the বিধিমালা from time to time, of the annual net income of the Fund as dividend at the end of each accounting period after making provision for bad and doubtful investments and future depreciation on investments. The Fund shall create a dividend equalization reserve by appropriation from the income of the Scheme. |
| Dividend Distribution |
The dividend warrant will be distributed within 45 (forty-five) days from the date of declaration.
|
| Tax Benefit |
a) Income from a mutual fund or a unit fund up to tk. 25,000.00 (Twenty-Five Thousand) is exempted from tax under Income Tax Ordinance 1984.
b) Investment in the EDGE Al-Amin Shariah Consumer Fund would qualify for investment tax credit under section 44(2) of the Income Tax Ordinance.
c) The income of the Fund will also be exempted form Tax. |
| Encashment |
The Unit holders can surrender and encash their Units to the Asset Manager and through the authorized selling agents appointed by the Asset Manager.
The Asset Manager or selling agent shall be liable to re-purchase the units on behalf of Fund. |
| Transferability |
The Units of the Fund are transferable by way of inheritance/ gift and/ or by specific operation of the law. |
| Prospectus, Reports and Accounts |
Every Unit holder is entitled to receive annual report along with the yearly and half-yearly statements of accounts as and when published on the asset management company's website (www.EDGEAMC.com). |
| Systematic Investment Plan (SIP) Facility |
Systematic Investment Plan or SIP allows investor to invest a certain pre-determined amount at a regular interval (monthly, quarterly, yearly etc.). A SIP is a planned approach towards investments and helps to inculcate the habit of saving and building wealth for the future. Investor can start SIP with a very small amount that is minimum BDT 1,000. |
| Cumulative Investment Plan (CIP) Facility |
Cumulative Investment Plan or CIP allows a unit-holder to re-invest dividend income declared by the Fund to be accrued for purchasing Units at the latest disclosed Sale Price after dividend declaration. Reinvestment through CIP allows investors to compound their earnings from capital gain and thus increase their wealth over time. |
