Mutual Funds

VIPB Asset Management Company Announces Dividend For Two Mutual Funds

VIPB Asset Management Company has announced cash dividend for two of its schemes for the financial year 2017-2018. The fund house has declared 13 percent cash dividend for Southeast Bank 1st Mutual Fund, and 14 percent cash dividend for NLI First Mutual Fund.

According to reports, the dividend record date for the two funds will be on August 14, 2018.

Southeast Bank 1st Mutual Fund and NLI First Mutual Fund made a profit of 141 million Bangladeshi Taka and 82 million Bangladeshi Taka, respectively. The earnings per unit of the Southeast Bank 1st Mutual Fund and NLI First Mutual Fund were 1.41 Bangladeshi Taka and 1.63 Bangladeshi Taka, respectively.

The trustee committee has reviewed and approved the audited financial reports of both Southeast Bank 1st Mutual Fund and NLI First Mutual Fund, during the trustee committee meeting held on July 24, 2018, the VIPB Asset Management Company confirmed in a statement.

Initially, the dividend would be sent to the unit-holders through BEFTN (Bangladesh Electronic Fund Transfer Network).

After that, cheques would be issued to the unit-holders instead of sending the dividend through BEFTN. The unit-holders have to collect the cheques from the VIPB AMC’s office.

The dividend of margin category unit-holders would be sent to their respective DPs, reported The Financial Express.

VIPB AMC, one of the pioneer Bangladesh-based investment management companies, are backed by financial institutions such as National Credit and Commerce Bank, The City Bank, Southeast Bank and National Life Insurance Company, and few US based companies owned by conspicuous NRBs (Non-Resident Bangladeshis), based on information provided in the company’s website.

VIPB Asset Management Company has about 4.0 billion Bangladeshi Taka under management, as on March 2018, reported The Financial Express. The fund house has shown a strong and steady performance irrespective of the market situation. According to officials, VIPB Accelerated Income Unit Fund, the AMC’s existing open-end mutual fund, has generated about 33.1 percent net return in 2017.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

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