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History

Formation Of EBL First Mutual Fund:

To create a trust to launch an Open-end Special Purpose fund with growth orientation in the Bangladesh capital market with the name and title of “RACE Special Opportunities Unit Fund” (Hereafter the Fund);

The “RACE Special Opportunities Unit Fund” is created as a Sectoral Fund with the following special purpose

  1. Supporting Bangladesh Government’s mandate to promote the financial and digital inclusion of Small and Medium Enterprise (SME) sector of the economy;
  2. Contribute to Bangladesh’s sustainable development goal (SDG) targets;
  3. Develop over the Long-term a pipeline of small and medium capitalization companies for listing on the BSEC mandated Alternative Trading Board (ATB)

The Constitution Of The Fund:

RACE Special Opportunities Unit Fund has been constituted through a Trust Deed entered into between The Premier Bank Limited and SENTINEL Trustee & Custodial Services Limited on December 24, 2019 under the Trust Act, 1882 and Registration Act, 1908. The Fund was registered by the SEC on January 21, 2020 under the সিকিউরিটিজ ও এক্সচেঞ্জ কমিশন (মিউচ্যুয়াল ফান্ড) বিধিমালা, ২০০১।

Life Of The Fund:

The Fund will be an open-end mutual fund with a perpetual life established to broaden the base of investment and develop the capital market. Institutional (local and foreign) and individual (resident and non-resident) investors are eligible to invest in this Fund.

Size, Face Value And Market Lot Of The Fund:

  • The initial Fund size of the fund Tk. 35 crore divided into 35,000,000 units at par value of Tk. 10 each
  • SPONSORS CONTRIBUTION: 25,000,000 Units of Tk. 10 each at par for Tk. 250,000,000
  • INITIAL PUBLIC OFFERING: 10,000,000 Units of Tk 10 each at par for TK 100,000,000