Annual Report 2019-20 AvBwmwe BDwbU dvÛ ICB Unit Fund ICB Unit Fund ÒgywRee‡l©i A½xKvi Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ ICB Unit Fund evwl©K cÖwZ‡e`b 2019-20 Annual Report 2019-20 AvBwmwe BDwbU dvÛ ICB Unit Fund e¨e¯’vcbvq : Bb‡f÷‡g›U K‡c©v‡ikb Ae evsjv‡`k (AvBwmwe) Managed by : Investment Corporation of Bangladesh (ICB) ICB Unit Fund mvaviY Z_¨vejx General Information cÖavb Kvh©vjq t wewWweGj feb (†j‡fj 14-21) Head Office : BDBL Bhaban (Level 14-21) 8, ivRDK A¨v‡fwbD, XvKv-1000 8, Rajuk Avenue, Dhaka-1000 †cv÷ e· bs-2058 Post Box no. 2058 K¨vej : INVESTCORP Cable : INVESTCORP †dvb : 9563455 (A‡Uv nvw›Us) Phone : 9563455 (auto hunting) d¨v· : 880 2 9563313 Fax : 880 2 9563313 B-†gBj : [email protected] E-mail : [email protected] I‡qe mvBU : www.icb.gov.bd web site : www.icb.gov.bd wbix¶Ke„›` t Avn‡g` Rv‡Ki A¨vÛ †Kvs Auditors : Ahmed Zaker & Co. PvU©vW© A¨vKvD›U¨v›Um& Chartered Accountants wMÖb wmwU GR (†j‡fj-10) Green City Edge (Level-10) 89, KvKivBj, XvKv-1000| 89, Kakrail, Dhaka-1000. G. Iqvnve A¨vÛ †Kvs A.Wahab & Co. PvU©vW© A¨vKvD›U¨v›Um& Chartered Accountants †nv‡Uj c~e©vbx, G‡b·-2 (5g Zjv) Hotel Purbani, Annex-2, (4th Floor) 1, w`jKzkv ev/G, XvKv-1000| 1, Dilkusha C/A Dhaka-1000. AvBb Dc‡`óv t W. Kvgvj DwÏb f~uTv Legal Advisor : Dr. Kamal Uddin Bhuiyan GjGj.we (Abvm©), GjGj.Gg, wcGBP.wW LL.B (Hon's), LL.M, Ph.D A¨vW‡fv‡KU, evsjv‡`k mycÖxg †KvU© Advocate, iæg bs-4020 (G‡b·) Bangladesh Supreme Court mycÖxg †KvU© evi A¨v‡mvwm‡qkb wewìs Room No.-4020 (Annex) Supreme Court Bar Association Building kvnevM, XvKv-1000| Shahbag, Dhaka-1000. †dvb: 9662057, 01716-736389 Phone : 9662057, 01716-736389 AvqKi Dc‡`óv t dviæK Avn‡g` gRyg`vi Income Tax Advisor: mvnviv g¨vK, d¬¨vU-2wm, Faruk Ahmed Majumder 3/1 I 3/2, weRq bMi, XvKv Shahara Mac, Flat-2C, †dvb : +88-02-9344662 3/1 & 3/2, Bijoy Nagar, Dhaka Phone : 88-02-9344662 e¨vsKvm© t AvBGdAvBwm e¨vsK wjt Bankers: IFIC Bank Ltd. evsjv‡`k †W‡fjc‡g›U e¨vsK wjt Bangladesh Development Bank Ltd. AMÖYx e¨vsK wjt Agrani Bank Ltd. †mvbvjx e¨vsK wjt Sonali Bank Ltd. RbZv e¨vsK wjt Janata Bank Ltd. iƒcvjx e¨vsK wjt Rupali Bank Ltd. w` wmwU e¨vsK wjt The City Bank Ltd. XvKv e¨vsK wjt Dhaka Bank Ltd. cÖvBg e¨vsK wjt Prime Bank Ltd. B÷vb© e¨vsK wjt Eastern Bank Ltd. evsjv‡`k K…wl e¨vsK Bangladesh Krishi Bank BDbvB‡UW Kgvwm©qvj e¨vsK wjt United Commercial Bank Ltd. DËiv e¨vsK wjt Uttara Bank Ltd. c~evjx e¨vsK wjt Pubali Bank Ltd. ÷¨vÛvW© e¨vsK wjt Standard Bank Ltd. ICB Islami Bank Ltd. AvBwmwe Bmjvgx e¨vsK wjt Annual Report 2019-20 03 ICB Unit Fund m~wPcÎ Contents welqe¯‘ Particulars kã ms‡¶c 05 Abbreviation 05 AvBwmwe cwiPvjbv †evW© 06 Board of Directors of ICB 06 AvBwmwe AwWU KwgwU 07 Audit Committee of ICB 07 GK bR‡i AvBwmwe BDwbU dvÛ 08 ICB Unit Fund at a glance 08 BDwbU dvÛ cÖwZ‡e`b 2019-20 10 Unit Fund Report 2019-20 10 AvBwmwe BDwbU dvÛ-Gi cwiwPwZ 10 Profile of ICB Unit Fund 10 BDwbU dvÛ cwiPvjbv I e¨e¯’vcbv 13 Operation and Management of Unit Fund 13 BDwbU cybtµq Ges CIP w¯‹‡gi Aax‡b BDwbU Bmy¨ 13 Unit Repurchase and Unit Issue under CIP 13 BDwb‡Ui g~j¨ 15 Price of Unit 15 jf¨vsk I my` Avq 15 Dividend and Interest Income 15 g~jabx gybvdv 15 Capital Gain 15 Avq, e¨q I eÈb‡hvM¨ gybvdv 15 Income, Expenditure and Distributable Income 15 jf¨vsk 16 Dividend 16 †cvU©©‡dvwjI 16 Portfolio 16 BDwbU †nvìvi‡`i †kÖwYwefvM 17 Classification of Unit Holders 17 K…ZÁZv ¯^xKvi 18 Acknowledgement 18 wbix¶K‡`i cÖwZ‡e`b I wnmve 19 Auditors’ Report and Accounts 19 BDwbU cybtµq Ges CIP w¯‹‡gi gva¨‡g BDwbU Authorised Bank Branches for Unit Bmy¨i Rb¨ Aby‡gvw`Z e¨vs‡Ki kvLvmg~n 36 Repurchase and Unit Issue under CIP 36 AvBwmwe Ges Gi mvewmwWqvwi †Kv¤úvwbi Awdm Branches of ICB and Offices of its I kvLvmg~n 38 Subsidiary Companies 38 04 Annual Report 2019-20 ICB Unit Fund Abbreviation ADB : Asian Development Bank IAS : International Accounting Standards BSA : Bangladesh Standards on Auditing IFRS : International Financial Reporting Standards BSEC : Bangladesh Securities and Exchange Commission CDBL : Central Depository Bangladesh Limited CIP : Cumulative Investment Plan CSE : Chittagong Stock Exchange Limited CMDP : Capital Market Development Programme DSE : Dhaka Stock Exchange Limited FY : Fiscal Year ICB : Investment Corporation of Bangladesh IAMCL : ICB Asset Management Company Limited ICML : ICB Capital Management Limited ISTCL : ICB Securities Trading Company Limited NAV : Net Asset Value NRB : Non Resident Bangladeshi RIU : Re-investment Unit Annual Report 2019-20 05 ICB Unit Fund cwiPvjbv †evW© Board of Directors †Pqvig¨vb Chairman W. gwRe DwÏb Avng` Dr. Mojib Uddin Ahmed Aa¨vcK Professor wWcvU©‡g›U Ae Uy¨wiRg A¨vÛ nmwcUvwjwU g¨v‡bR‡g›U Department of Tourism and Hospitality Management University of Dhaka XvKv wek¦we`¨vjq e¨e¯’vcbv cwiPvjK Managing Director †gvt Aveyj †nv‡mb Md. Abul Hossain cwiPvjKe„›` Directors G. we. Gg. iæûj AvRv` A. B. M. Ruhul Azad AwZwi³ mwPe Additional Secretary Avw_©K cÖwZôvb wefvM, A_© gš¿Yvjq, Financial Institutions Division, Ministry of Finance MYcÖRvZš¿x evsjv‡`k miKvi Government of the People's Republic of Bangladesh †Rvqvi`vi BmivBj †nv‡mb Joarder Israil Hossain wbe©vnx cwiPvjK Executive Director evsjv‡`k e¨vsK Bangladesh Bank KvRx AvjgMxi Kazi Alamgir e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO evsjv‡`k †W‡fjc‡g›U e¨vsK wjt Bangladesh Development Bank Ltd. †gvt AvZvDi ingvb cÖavb Md. Ataur Rahman Prodhan e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO †mvbvjx e¨vsK wjwg‡UW Sonali Bank Limited †gvn¤§` kvgm&&-Dj Bmjvg Mohammad Shams-Ul Islam e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO AMÖYx e¨vsK wjt Agrani Bank Ltd. †gvt AvãyQ Qvjvg AvRv` Md. Abdus Salam Azad e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO RbZv e¨vsK wjt Janata Bank Ltd. ˆmq` kvnwiqvi Avnmvb Syed Shahriyar Ahsan e¨e¯’vcbv cwiPvjK Managing Director mvaviY exgv K‡c©v‡ikb Sadharan Bima Corporation †Kv¤úvwb mwPe Company Secretary †gvt iwdK Dj¨v Md. Rafique Ullah Dc-gnve¨e¯’vcK Deputy General Manager 06 Annual Report 2019-20 ICB Unit Fund AwWU KwgwU Audit Committee †gvt AvãyQ Qvjvg AvRv` Md. Abdus Salam Azad mfvcwZ, AwWU KwgwU President, Audit Committee I & e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO Janata Bank Limited RbZv e¨vsK wjwg‡UW KvRx AvjgMxi Kazi Alamgir m`m¨, AwWU KwgwU Member, Audit Committee I & e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO Bangladesh Development Bank Limited evsjv‡`k †W‡fjc‡g›U e¨vsK wjwg‡UW †gvt AvZvDi ingvb cÖavb Md. Ataur Rahman Prodhan m`m¨, AwWU KwgwU Member, Audit Committee I & e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO Sonali Bank Limited †mvbvjx e¨vsK wjwg‡UW †gvn¤§` kvgm&&-Dj Bmjvg Mohammad Shams-Ul Islam m`m¨, AwWU KwgwU Member, Audit Committee I & e¨e¯’vcbv cwiPvjK I wmBI Managing Director & CEO Agrani Bank Limited AMÖYx e¨vsK wjwg‡UW ˆmq` kvnwiqvi Avnmvb Syed Shahriyar Ahsan m`m¨, AwWU KwgwU Member, Audit Committee I & e¨e¯’vcbv cwiPvjK Managing Director Sadharan Bima Corporation mvaviY exgv K‡c©v‡ikb Annual Report 2019-20 07 ICB Unit Fund ICB UNIT FUND at a glance (FY 2005-06 to FY 2012-13) i) ii) iii) iv) 52242865 v) vi) vii) viii) ix) x) xi) xii) xiii) xiv) xv) * Gross Issue represents issue of units instead of cash dividend under Cumulative Investment Plan (CIP). 08 Annual Report 2019-20 ICB Unit Fund ICB UNIT FUND at a glance (FY 2013-14 to FY 2019-20) i) ii) iii) iv) v) vi) vii) viii) ix) x) xi) xii) xiii) xiv) xv) * Gross Issue represents issue of units instead of cash dividend under Cumulative Investment Plan (CIP). ** 951 Unit certificate has been adjusted during FY 2016-17. *** 149 Unit certificate has been adjusted during FY 2018-19. Annual Report 2019-20 09 ICB Unit Fund BDwbU dvÛ cÖwZ‡e`b 2019-20 Unit Fund Report 2019-20 AvBwmwe BDwbU dvÛ Gi cwiwPwZ Profile of ICB Unit Fund m~Pbv Inception evsjv‡`k miKv‡ii Aby‡gv`bµ‡g Bb‡f÷‡g›U K‡c©v‡ikb With the approval of the Govt. of Bangladesh, ICB Ae evsjv‡`k KZ…©K Bb‡f÷‡g›U K‡c©v‡ikb Ae evsjv‡`k Unit Fund (an open-ended Mutual Fund) was formed Aa¨v‡`k, 1976 Gi 21(2) aviv [eZ©gv‡b Bb‡f÷‡g›U in the month of April, 1981 by the Investment Corporation of Bangladesh under section 21 (2) of the K‡c©v‡ikb Ae evsjv‡`k AvBb, 2014 Gi aviv 17(L)] Investment Corporation of Bangladesh Ordinance, Ges AvBwmwe BDwbU †i¸‡jkbm&&, 1981 Gi Aax‡b GwcÖj, 1976 [at present section 17 (Kha) of the Investment 1981 gv‡m AvBwmwe BDwbU dvÛ (GKwU †e-†gqvw` Corporation of Bangladesh Act, 2014] and ICB Unit wgDPy¨qvj dvÛ) MwVZ nq| AvBwmwe BDwbU †i¸‡jkbm&&, Regulations, 1981. In terms of the provision of ICB 1981 †gvZv‡eK K‡c©v‡ikb Avb‡›`i mv‡_ AvBwmwe BDwbU Unit Regulations, 1981 the Corporation is pleased to dv‡Ûi muvBwÎkZg evwl©K cÖwZ‡e`bmn 30 Ryb 2020 present the Thirty Seventh Annual Report together Zvwi‡L mgvß A_©eQ‡ii wbixw¶Z wnmve weeiYx Dc¯’vcb with the audited financial statement of ICB Unit Fund Ki‡Q| for the year ended 30 June 2020.