Mutual Fund Eighth ICB. Annual Report

Transcription

1 Eighth ICB Mutual Fund Annual Report

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3 evwl K cöwz e`b Annual Report AvBwmwe wgdpz qvj dvû ICB Mutual Fund e e vcbvq t Bb f g U K c v ikb Ae evsjv `k Managed by: Investment Corporation of Bangladesh

4 mvaviy Z_ vejx cöavb Kvh vjq: wewwwegj feb ( j fj 14-17) 8, ivrdk A v fwbd, XvKv-1000 cv e bs-2058 Kej : INVESTCORP dvb : (A Uv nvw Us) d v : B- gbj : md_sec@icb.gov.bd icb@agni.com I qe mvbu : General Information Head Office: BDBL Bhaban (Level 14-17) 8, Rajuk Avenue, Dhaka-1000 Post Box no Cable : INVESTCORP Phone : (auto hunting) Fax : md_sec@icb.gov.bd icb@agni.com web site : wbix Ke `: Lvb Inve kwdk ingvb GÛ Kvs PvU vw A vkvd U v Um& iƒcvjx exgv feb (lô Zjv) 7, ivrdk A v fwbd, gwzwsj, XvKv-1000 Auditors: Khan Wahab Shafique Rahman & Co. Chartered Accountants Rupali Bima Bhaban (5 th Floor) 7, RAJUK Avenue, Motijheel Dhaka-1000 ingvb gv Ídv Avjg GÛ Kvs PvU vw A vkvd U v Um& c vivgvd U nvbum& (8g Zjv, ww2) e KvjfvU ivw 65/2/1 cyivbv cëb XvKv-1000 Rahman Mostafa Alam & CO. Chartered Accountants Paramount Heights (7 th floor, D2) Box Culvert Road 65/2/1, Purana Paltan Dhaka-1000 AvBb Dc `óv: W. Kvgvj DwÏb f~utv GjGj.we (Abvm ), GjGj.Gg, wcgbp.ww A vw fv KU, evsjv `k mycªxg KvU iæg bs-4020 (G b ) mycöxg KvU evi A v mvwm qkb wewìs kvnevm, XvKv-1000 dvb: , AvqKi Dc `óv: kwdk emvk GÛ Kvs PvU vw A vkvd U v Um& kzvãx m Uvi (7g Zjv) 292, Bbvi mvk yjvi ivw dwkivcyj, gwzwsj, XvKv dvb : e vskvm : AvBGdAvBwm e vsk wjt AMÖYx e vsk wjt XvKv e vsk wjt WvP&-evsjv e vsk wjt wmwu e vsk GbG ewmk e vsk wjt Legal Adviser: Dr. Kamal Uddin Bhuiyan LL.B (Hon's), LL.M, Ph.D Advocate, Bangladesh Supreme Court Room No-4020 (Annex) Supreme Court Bar Association Building Shahbag, Dhaka-1000 Phone : , Income Tax Adviser: Shafiq Basak & Co. Chartered Accountants Shatabdi Centre (6th Floor) 292, Inner Circular Road Fakirapool, Motijheel, Dhaka Phone : Bankers : IFIC Bank Ltd. Agrani Bank Ltd. Dhaka Bank Ltd. Dutch-Bangla Bank Ltd. City Bank NA Basic Bank Ltd. 2

5 m~wpcî Contents AvBwmwe cwipvjbv evw 04 Board of Directors of ICB 04 Kvh µ gi msw ßmvi 05 Operational Highlights 05 e e vcbv cöwz e`b I wnmve 06 Management Report and Accounts 06 AvBwmwe wgdpÿ qvj dvûmg~n 08 ICB Mutual Funds 08 K ZÁZv ^xkvi 11 Acknowledgement 11 Aóg AvBwmwe wgdpÿ qvj dvû 12 Eighth ICB Mutual Fund 12 AvBwmwei Awdmmg~n 37 Offices of ICB 37 3

6 cwipvjbv evw Pqvig vb W. gwre DwÏb Avn g` Aa vck wwcvu g U Ae Uÿ wirg A vû nmwcuvwjwu g v br g U XvKv wek we` vjq e e vcbv cwipvjk gvt BdwZLvi-DR-Rvgvb cwipvjke ` gynv ` AvjKvgv wmwïkx AwZwi³ mwpe A_ bwzk m úk wefvm, A_ gš Yvjq MYcÖRvZš x evsjv `k mikvi gvt kwdkzj Bmjvg AwZwi³ mwpe evwyr gš Yvjq MYcÖRvZš x evsjv `k mikvi Gm, Gg, gwbiæ¾vgvb wbe vnx cwipvjk evsjv `k e vsk gbryi Avng` e e vcbv cwipvjk evsjv `k W fjc g U e vsk wjt gvt Iev q` Djøvn Avj gvmỳ e e vcbv cwipvjk I wmbi mvbvjx e vsk wjt gvn ` kvgm&-dj Bmjvg e e vcbv cwipvjk I wmbi AMÖYx e vsk wjt gvt Ave`ym mvjvg e e vcbv cwipvjk I wmbi RbZv e vsk wjt ˆmq` kvnwiqvi Avnmvb e e vcbv cwipvjk mvaviy exgv K c v ikb mwpe `xwckv fævpvh gnve e vck Board of Directors Chairman Dr. Mojib Uddin Ahmed Professor Department of Tourism and Hospitality Management University of Dhaka Managing Director Md. Iftikhar-uz-zaman Directors Muhammad Alkama Siddiqui Additional Secretary Economic Relations Division, Ministry of Finance Government of the People's Republic of Bangladesh Md. Shafiqul Islam Additional Secretary Ministry of Commerce Government of the People's Republic of Bangladesh S. M. Moniruzzaman Executive Director Bangladesh Bank Manjur Ahmed Managing Director Bangladesh Development Bank Ltd. Md. Obayed Ullah Al Masud Managing Director & CEO Sonali Bank Ltd. Mohammad Shams-Ul Islam Managing Director & CEO Agrani Bank Ltd. Md. Abdus Salam Managing Director & CEO Janata Bank Ltd. Syed Shahriyar Ahsan Managing Director Sadharan Bima Corporation Secretary Dipika Bhattacharjee General Manager 4

7 Launching & Conversion/Liquidation Operational Highlights Name of the Fund Date of Launching Capital Fund (Taka in lac) Effective date of Conversion to open end Unit Fund First ICB Mutual Fund 25 April October 2015 Second ICB Mutual Fund 17 June November 2015 Third ICB Mutual Fund 19 May March 2016 Fourth ICB Mutual Fund 06 June march 2016 Fifth ICB Mutual Fund 08 June February 2016 Sixth ICB Mutual Fund 16 May April 2016 Seventh ICB Mutual Fund 30 June Eighth ICB Mutual Fund 23 July Total Last five Years Comparison of 8 th ICB Mutual Fund Regarding Net Income, Dividend Percentage and Dividend Amount Net Income Dividend Percentage % 200% 150% 100% 50% 0% Fiscal Year Fiscal Year Dividend Amount Tk. in Crore 5

8 ANNUAL REPORT ICB Mutual Fund Operational Results (FY ) Meeting for declaration of dividend of ICB Mutual Fund for FY is in progress e e vcbv cöwz e`b I wnmve Management Report and Accounts AvBwmwe (mvaviy) cöweavbgvjv, 1977 Gi 29-we Gi 7bs Dc-wewa Abyhvqx K c v ikb Avb `i mv _ 8g AvBwmwe wgdpz qvj dv Ûi 30 Ryb 2016 Zvwi L mgvß A_ eq ii evwl K e e vcbv cöwz e`b I wbixw Z wnmve GZ`&m ½ Dc vcb Ki Q In terms of the sub-regulation (vii) of Regulation 29-B of ICB (General) Regulations 1977, the Corporation is pleased to present herewith the Annual Management Report and Audited Accounts of its 8th ICB Mutual Fund for the year ended 30 June

9 wgdpÿ qvj dvû wgdpÿ qvj dvû Trust Act 1882 (II of 1882)-Gi Aax b U«v AvKv i MwVZ Ges ÔÔwmwKDwiwUR I G PÄ Kwgkb (wgdpÿ qvj dvû) wewagvjv, 2001ÕÕ Abymv i cwipvwjz n q _v K D ` v³v KZ K cö`ë Ges Rbmvavi Yi wbku BDwbU weµ qi gva g msm nxz A_ Øviv wgdpÿ qvj dvû MwVZ nq wgdpÿ qvj dv Ûi cvu dvwji ckv`vwi Z i mv _ cwipvwjz nq Ges wewb qvmkvixmy A c vk Z ^í SyuwK enb K i eûgylx cî Kvl (Diversified Portfolio)-G wewb qv Mi my hvm jvf K ib wgdpÿ qvj dvû wbivc` wewb qvm gva g wnmv e ` ki AeKvVv gvmz Dbœqbmn cvewjk wjwg UW Kv úvwbi cuywr Avni Yi Î we Ív ii gva g wkívq bi MwZ K Z ivwš^z K i _v K GQvov ` ki cuywrevrv i cövwzôvwbk wewb qvmkvixmn wgdpÿ qvj dv Ûi ^ízvi Kvi Y evrvi cwiw wz cövq mg q Aw wzkxj n q D V wgdpÿ qvj dvû cuywrevrv i wmwkdwiwu Ri mieivn Ges Pvwn`v e w i gva g evrv ii w wzkxjzv I UKmB Dbœq b mnvqzv K i _v K RvZxq mâq I wewb qv Mi nvi e w Ges ` ki A_ bwzk Dbœqbmn cuywrevrv ii w wzkxjzv ervq ivl Z wgdpÿ qvj dvû iæz c~y f~wgkv cvjb K i _v K wgdpÿ qvj dvû wewagvjv evsjv `k wmwkdwiwur I G PÄ Kwgkb (wegmbwm) KZ K 10 RyjvB 2001 Zvwi L M RU bvwuwd Kkb-Gi gva g "wmwkdwiwur I G PÄ Kwgkb (wgdpÿ qvj dvû) wewagvjv, 2001Ó Rvwi Kiv nq D³ wewagvjv gvzv ek h Kvb wgdpÿ qvj dv Ûi AwR Z mkj Avq AvqKigy³ Av jvp wewagvjv Abymv i wgdpÿ qvj dv Ûi evwl K jv fi b~ bzg 70% wewb qvmkvix `i gv S jf vsk wn m e weziy Kivi weavb i q Q wewagvjvi 60 bs Aby Q ` kqvi cöwz wbu m ú` g~j msµvší welqwu wb œiƒ c ewy Z n q Q- (1) cö Z K wgdpz qvj dvû Zvi cö Z KwU w gi BDwbU cöwz wbu m ú` g~j (c _Kfv e µq g~j I PjwZ evrvi g~j Gi wfwë Z) wb œewy Z c wz Z wby q Ki e, h_vt- gvu wbu m ú` g~j (NAV) = dv Ûi gvu m ú `i cwigvy - dv Ûi gvu `v qi cwigvy Mutual Fund Mutual Funds are formed under Trust Act 1882 (II of 1882) as trust and managed by Securities and Exchange Commission (Mutual Fund) Rules, Mutual fund is formed by the money given by the sponsor and sale proceeds of the unit sold to the public. The portfolio of the mutual fund is managed professionally and the investors get a chance to invest in a diversified portfolio with relatively lower risk. Mutual Fund accelerates the industrialization by expanding the scope of capital collection of public limited companies including the infrastructure development of the country as a secure investment instrument. Due to the fewness of mutual funds and institutional investors the market situation becomes unstable very often. Mutual Funds help to improve the stability of the market and sustainable development by supplying securities and increasing demand. Mutual funds play an important role in increasing national savings and investment and also in capital market stability including economic development. Mutual Funds Rules Securities and Exchange Commission (Mutual Fund) Rules, 2001 was circulated by Bangladesh Securities and Exchange Commission (BSEC) through gazette notification on 10 July As per the regulation all incomes of mutual funds are tax-free. According to the rule it is mandatory to distribute at least 70% of the annual profit among the shareholders as dividend. The matter of net asset value per share has been stated in the paragraph no. 60 of the rule as follows: (1) All scheme of each mutual fund will calculate its net asset value per share (separately at cost and market price) of all scheme by the following method: Total net asset value (NAV) = Total Asset of the fund - Total liability of fund BDwbU cöwz wbu m ú `i g~j = gvu wbu m ú` g~j (NAV) gvu Acwi kvwaz (un-redeemed) BDwb Ui msl v Net asset value per unit = Total Net Asset Value (NAV) Total no. of un-redeemed unit 7

10 gvu m ú `i cwigvy ej Z wb œewy Z m ú` K eysv e- (K) ndvr Z iw Z mkj wmwkdwiwu Ri g~j, eükk Z mkj wmwkdwiwu Ri g~j, nv Z I e vs K iw Z bm` UvKv, cvibv hvm wmwkdwiwu Ri g~j, cvibv hvm wewb qv Mi weµq g~j, AvqKi ev ` Av`vq hvm jf vsk, AvqKi ev ` Av`vq hvm mỳ, Aemvqb LiP ev ` Bmÿ LiP, Aemvqb LiP ev ` gỳ ªY I kbvwi LiP (L) gvu dv Ûi `v qi cwigvy ej Z wb œewy Z `vq K eysv ecö `q hvm mkj wmwkdwiwu Ri g~j, cö `q hvm wewb qv Mi µq g~j, eªvkv ir I ndvrzkvixi PvR, mkj ai Yi gỳ ªY, cvewj Kkb I kbvwi LiP, e Kqv wejw ^Z LiP (Uªvw wd, evwl K wd, AwWU wd, M vivw U Kwgkb) (2) wgdpz qvj dv Ûi mkj w g cöwz mßv n Gi wbu m ú` g~j wby q Ki e (3) cö Z KwU w gi wby qk Z wbu m ú` g~j (µq g~j I PjwZ evrvi g~ j i wfwë Z) cö Z K mßv ni cö_g Kg w`e m wmwkdwiwur jb `b ïiæ niqvi c~ e Kwgkb I mswkøó K G PÄmg~n K Rvbv Z n e GKB mv _ m ú` e e vcbv Kv úvwbi Kvh vj qi bvwuk evw I I qe-mvb U (Website) Zv cökvk Ki Z n e Ges cöm wiwjr AvKv i D³ Z_ cuywrevrvi m úk xq msev` cwi ekbkvix AšÍZt GKwU RvZxq ˆ`wbK cwîkvq cökvk Ki Z n e AvBwmwe wgdpÿ qvj dvûmg~n AvBwmwe evsjv ` k wgdpy qvj dvû BÛvw «cöez b cw_k r Gi f~wgkv cvjb K i 25 GwcÖj 1980 Zvwi L ` ki cö_g gqvw` (Closed-end) wgdpÿ qvj dvû ÔÔcÖ_g AvBwmwe wgdpÿ qvj dvûõõ evrvirvz Kiv nq Gi ci _ K eqi cwiµgvq 1996 mvj ch ší AvBwmwe me gvu KvwU (ez gv b KvwU) UvKv g~jab msewjz 8wU gqvw` wgdpÿ qvj dvû evrvirvz K i evsjv `k wmwkdwiwur I G PÄ Kwgkb (wegmbwm) KZ K 10 RyjvB 2001 Zvwi L M RU bvwuwd Kkb-Gi gva g ÒwmwKDwiwUR I G PÄ Kwgkb (wgdpÿ qvj dvû) wewagvjv, 2001Ó Rvwi Kiv nq DwjøwLZ mg q ïaygvî AvBwmwe cwipvwjz Av jvp 08 (AvU) wu gqvw` wgdpÿ qvj dvû K G PÄmg~ n ZvwjKvfy³ wqj evrv i we` gvb Ges fwel Z ZvwjKvfy³ n Z cv i Ggb me wgdpÿ qvj dvû GKB bxwzgvjvi AvIZvq cwipvjbvi gva g wewb qvmkvixm Yi ^v_ i vi wbwgë 2007 mv j wegmbwm AvBwmwe wgdpÿ qvj dvûmg~n Av jvp wewagvjvi AvIZvq cwipvjbvi Î KwZcq kz Av ivc Ges KwZcq wewa cwicvj b Ae vnwz cö`vb K i Total asset will include the following assets: a) Value of all securities under custody, value of all securities mortgaged, cash in hand and at bank value of all securities receivable, value of all receivable investments, recoverable dividend excluding income tax, recoverable interest excluding income tax, issue expense excluding amortization, printing and stationery expenses excluding amortization. b) Total liabilities of the fund will includes- value of all securities payable, cost of all payable investment, brokerage and custodian charge, printing expenses, publication and stationery, due late fees (trustee fee, annual fee, audit fee, guarantee fee). (2) Schemes of mutual fund will calculate its net asset value in each week. (3) The calculated net asset value of every scheme (at cost and market price) has to be informed to the commission and the stock exchanges at the first working day of the week prior to the trading hour. Simultaneously, it has to be published in the notice board and website of the asset management company and in at least one national newspaper as press release which presents capital market news. ICB Mutual Funds ICB is the pioneer organization of initiating mutual fund industry in Bangladesh. The country s first closedend mutual fund, the First ICB Mutual Fund was launched on 25 April Since then ICB had floated 8 closed-end mutual funds of total capital of Tk crore (which is now Tk crore) up to Securities and Exchange Commission (Mutual Fund) Rules, 2001 was circulated by Bangladesh Securities and Exchange Commission (BSEC) through gazette notification. At that time the aforementioned eight mutual funds managed by ICB was listed in the stock exchanges. For the interest of investors by bringing all existing and forthcoming mutual funds under the same rules, some conditions are imposed and exemption are given from executing some rules by BSEC in 2007 to operate the ICB mutual funds. 8

11 wegmbwm KZ K 07 deªæqvwi 2007 Zvwi Li c Îi gva g wgdpz qvj dvû wewagvjv cöyq bi A bk c~ e AvBwmwe dvûmg~n Pvjy Kivi Kvi Y Uªvw, Kv vwwqvb Ges D ` v³v wb qv Mi kz _ K AvBwmwe K Ae vnwz cà vb K i AvBwmwei cwipvjbv evw K dvûmg~n cwipvjbvi Aby gv`b `Iqv n q Q evrvi cwiw wzmn mvwe K we epbvq AvBwmwei Aby iv ai cöw Z wegmbwm KZ K AvBwmwe cwipvwjz 8wU gqvw` wgdpÿ qvj dv Ûi Aemvqb/iƒcvšÍ ii gqv` ch vqµ g 31 ww m ^i 2015 _ K 31 ww m ^i 2016 ch ší wba viy Kiv nq D jøl h, 30 Ryb 2016 ZvwiL ch ší gqvw` 8wU AvBwmwe wgdpÿ qvj dvû-gi g a 6wU AvBwmwe wgdpÿ qvj dvû K (1g AvBwmwe wgdpÿ qvj dvû n Z 6ô AvBwmwe wgdpÿ qvj dvû) e- gqvw` wgdpÿ qvj dvû-g iƒcvšíi Kiv n q Q GQvov, 7g I 8g AvBwmwe wgdpÿ qvj dvû-gi ÎI wegmbwm KZ K wba vwiz mgq A_ vr h_vµ g 30 m Þ ^i 2016 Ges 31 ww m i 2016 Zvwi Li g a Aemvqb/iƒcvšÍi Kvh µg m úbœ Kivi wb ` kbv i q Q BSEC exempted ICB from the condition of appointing Trustee, Custodian and sponsor by their letter dated 7 th February 2007 because the funds were floated long before of the present mutual fund rules. Considering the overall environment including the market situation, liquidation or conversion of ICB managed 8 mutual funds has been scheduled as per BSEC s instruction, from 31 December 2015 to 31 December Mentionable that, among the 8 closed-end ICB managed Mutual Funds, 6 closed-end Mutual Funds (1 st ICB Mutual Fund to 6 th ICB Mutual Fund) have already transformed into the 6 open-end Mutual Funds up to 30 June Besides this, according to the direction of BSEC, the 7 th and 8 th ICB Mutual Fund will also be transformed/liquidated within the time frame set by the BSEC i.e. 30 September 2016 and 31 December 2016 respectively. AvBwmwe cwipvwjz cö_g n Z lô AvBwmwe wgdpÿ qvj dv Ûi iƒcvšíi/aemvqb msµvší cö qvrbxq Z_ vw` wb œ Dc vcb Kiv nj t- weeiy cö_g AvBwmwe wgdpÿ qvj dvû wøzxq AvBwmwe wgdpÿ qvj dvû Z Zxq AvBwmwe wgdpÿ qvj dvû PZy_ AvBwmwe wgdpÿ qvj dvû câg AvBwmwe wgdpÿ qvj dvû lô AvBwmwe wgdpÿ qvj dvû cöm c±vm cökv ki ZvwiL ïiæi ZvwiL AwfwnZ g~j (UvKvq) cwi kvwaz g~jab (j UvKvq) BDwbU msl v 7,50,000 5,00,000 10,00,000 10,00,000 15,00,000 50,00,000 iƒcvšíi/aemvq bi mgqmxgv ikw WU BDwbU gvwjkm Yi we kl mfvi ZvwiL iƒcvšíi msµvší ikw W Ui wfwë Z wbu A v mu f vjy (UvKvq) iƒcvšíi msµvší ikw W Ui wfwë Z BDwbU cöwz wbu A v mu f vjy (UvKvq) 140,74,63,401 17,24,16,289 43,33,73,929 31,19,27,256 45,69,10,231 29,58,72, wU wgdpÿ qvj dv Ûi wecix Z cövß BDwbU wU 34.48wU 43.34wU 31.19wU 30.46wU 5.92wU msl v mvemwµckb ïiæi ZvwiL

12 ANNUAL REPORT ICB Mutual Fund Meeting for conversion of ICB managed Mutual Funds (1st-6th) from Closed-end Mutual Funds to Open-end Mutual Funds is in progress. wewb qvmkvix `i ^v _ m ve m e v P cwigvy wiuvy I me wb œ SyuwK wbwðz Kivi Rb wgdpy qvj dvûmg~ ni cvu dvwji wep YZv I ` Zvi mv _ cwipvjbv Kiv nq wgdpy qvj dvûmg~ ni Avw_ K weeiyx Z c~y v½ Z_ cökvk I AwaKZi ^ QZv I Revew`wnZv wbwðz Kivi j wbixw Z evwl K P~ovšÍ wnmv ei mv _ µqg~j I evrvig~j mn wewb qvm cvu dvwjii we ÍvwiZ weeiyx, evwl K jf vsk/my` Av qi weeiyx, evwl K g~jabx gybvdvi weeiyx BZ vw` cökvk Kiv nq 30 Ryb 2016 ZvwiL ch ší AvBwmwe cwipvwjz 8wU gqvw` wgdpy qvj dvû-gi g a 6wU wgdpy qvj dvû e- gqvw` wgdpy qvj dvû-g iƒcvšíwiz n q Q Ges 7g AvBwmwe wgdpz qvj dvû Aemvqb/ iƒcvší ii j ÿ cöwµqvaxb i q Q AvBwmwe KZ K cwipvwjz 8g wgdpy qvj dv Ûi n Z A_ eq ii Kvh dj-gi msw ß weeiy wb œ Dc vcb Kiv njt The portfolios of all the mutual funds were managed with diligence and prudence to ensure maximization of return and minimization of risk for the interest of investors. Statement of Marketable Securities including cost and market price, Statement of dividend/interest income during the year, Statement of Profit on Sale of Securities during the year etc. are expressed publicly for more transparency and accountability and to publish complete information in the statements of mutual funds. Due to conversion of first 6 closed-end mutual funds to open end mutual funds among 8 closed-end mutual funds managed by ICB and liquidation/conversion of 7th ICB MF was being processed within 30 June The performance of 8th ICB MF for FY to FY is presented here: Table-1. Financial aggregate of 8th ICB Mutual Fund managed by ICB from FY to FY Particulars Income Expenditure Provision Net Income Dividend Paid up capital Net asset value at cost (Tk.) Net asset value at market price (Tk.) (Tk. in crore)

13 K ZÁZv ^xkvi PjwZ A_ eq ii wewfbœ mg q AvBwmwei kqvigvwjke `, A_ gš Yvjq, wkí gš Yvjq, evwyr gš Yvjq, evsjv `k e vsk, evsjv `k wmwkdwiwur A vû G PÄ Kwgkb, evwywr K e vskmg~n, exgv K c v ikbmg~n, evsjv `k W fjc g U e vsk wjt, XvKv K G PÄ wjt, PÆMÖvg K G PÄ wjt, m Uªvj ww cvwruwi evsjv `k wjt, evsjv `k Bb f g U W fjc g U A_wiwU, mswkøó mkj gš Yvjq I cöwzôvb, msev` gva g Ges we kl K i m vwbz MÖvnKMY n Z AvBwmwe h mn hvwmzv I AvšÍwiKZv c q Q Zvi Rb cwipvjbv evw Mfxi K ZÁZv cökvk Ki Q cwipvjbv evw Zuv `i Ae vnz mn hvwmzv cö`v bi Rb ab ev` Rvbv Q Ges fwel ZI Zuv `i mn hvwmzv Kvgbv Ki Q cwipvjbv evw AvBwmwei Kg KZ v Ges Kg PvwiMY K G dvû ` fv e cwipvjbvi Î Zv `i KZ e wbôv I wbijm cö Póvi Rb ab ev` Rvbv Q ˆmq` kvnwiqvi Avnmvb cwipvjk gvt Ave`ym mvjvg cwipvjk gvn ` kvgm&-dj Bmjvg cwipvjk gvt Iev q` Djøvn Avj gvmỳ cwipvjk gbryi Avng` cwipvjk Gm, Gg, gwbiæ¾vgvb cwipvjk gvt kwdkzj Bmjvg cwipvjk gynv ` AvjKvgv wmwïkx cwipvjk gvt BdwZLvi-DR-Rvgvb e e vcbv cwipvjk W. gwre DwÏb Avn g` Pqvig vb Acknowledgement The Board of Directors puts on record with profound gratitude the assistance and co-operation received by ICB during the year from the shareholders, Ministry of Finance, Ministry of Industries, Ministry of Commerce, Bangladesh Bank, Bangladesh Securities and Exchange Commission, different Commercial Banks, Insurance Corporations, Bangladesh Development Bank Ltd., Dhaka Stock Exchange Ltd., Chittagong Stock Exchange Ltd., Central Depository Bangladesh Ltd., Bangladesh Investment Development Authority, all concerned ministries/ agencies, print and electronic media and particularly from its valued clients. The Board of Directors also thanks them for their unwavering and resolute co-operation and hope that their persistent support will continue in future. The Board of Directors deeply appreciates the officers and employees of ICB for their excellent performance, sincere and devoted efforts in efficient management of this fund. Syed Shahriyar Ahsan Director Md. Abdus Salam Director Mohammad Shams-Ul Islam Director Md. Obayed Ullah Al Masud Director Manjur Ahmed Director S. M. Moniruzzaman Director Md. Shafiqul Islam Director Muhammad Alkama Siddiqui Director Md. Iftikhar-uz-zaman Managing Director Dr. Mojib Uddin Ahmed Chairman 11

14 Aóg AvBwmwe wgdpz qvj dvû Eighth ICB Mutual Fund 12

15 Aóg AvBwmwe wgdpÿ qvj dvû jf vsk I mỳ Avq A_ eq i G dvû gvu 111wU wmwkdwiwur n Z j UvKv jf vsk I mỳ eve` Avq K i Q GB dvû A_ eq i jf vsk I mỳ eve` Avq K iwqj j UvKv A_ eq ii Kv úvwb wfwëk cövc jf vsk Ges jf vsk Av qi we ÍvwiZ weeiy h_vµ g cwiwkó-we Ges cwiwkó-wm G `Lv bv n q Q g~jabx gybvdv A_ eq i G dvû 36wU Kv úvwbi wmwkdwiwur weµq K i j UvKv g~jabx gybvdv AR b K i Q hv c~e ez x A_ eq ii Zyjbvq 1.05 kzvsk ewk A_ eq i G dvû j UvKv g~jabx gybvdv AR b K iwqj g~jabx gybvdv AR bi we ÍvwiZ weeiy cwiwkó-ww G `Lv bv n q Q Avq, e q I eèb hvm gybvdv kqvi/e Û wewb qvm n Z jf vsk I mỳ eve` Avq UvKv, e vsk Avgvb Zi Dci mỳ j UvKv, g~jabx gybvdv j UvKv Ges Ab vb Avqmn Av jvp A_ eq i G dv Ûi gvu Av qi cwigvy `uvovq j UvKv e e vcbv wd, Kv vwwqvb wd, wjw s wd, AwWU wd, e vsk PvR Ges Ab vb LiP eve` gvu j UvKv ev` `qvi ci dv Ûi wbu Avq `uvovq j UvKv c~e ez x eq ii Aew UZ gybvdv j UvKv hvm Kivi ci 30 Ryb 2016 Zvwi L dv Ûi wbu e Ub hvm Av qi cwigvy `uvovq j UvKv Ges mvwu wd KU cöwz e Ub hvm gybvdvi cwigvy `uvovq UvKv jf vsk NvlYv Av jvp dvû A_ eq i cöwzwu UvKv g~j gv bi mvwu wd K Ui Rb kzvsk nv i jf vsk NvlYv K i Q hv c~e ezx eq i wqj kzvsk jf vsk cö`v bi Rb gvu j UvKvi ms vb ivlvi ci dv Û j UvKv Aew UZ gybvdv i q Q wb œi mviwyi gva g G dv Ûi eqiiqvix jf vs ki nvi cö`wk Z njt Eighth ICB Mutual Fund Dividend and Interest Income The Fund has earned an amount of Tk Lac as dividend and interest from investment in securities of 111 companies during In the fund earned an amount of Tk lac as dividend income. Details of dividend receivables & dividend income in the FY are shown in Annexure-B and Annexure-C respectively. Capital Gain During , the Fund has earned Tk lac as capital gain by selling securities of 36 companies which is 1.05 percent higher than previous year. During it earned Tk lac as capital gains. Details of capital gains are shown in Annexure-D. Income, Expenses and Distributable Income During the year under review, the Fund has earned a gross income of Tk lac by way of dividend and interest income from investment of shares/bonds amounting to Tk lac, Tk lac as interest on bank deposits, Tk lac as capital gains and other income. After deducting the total expenses of Tk lac incurred as management fee, custodian fee, listing fee, audit fee, bank charges and other expenses the net income of the Fund stood at Tk lac. Taking into account the previous year s undistributed income of Tk lac, the Fund had a net distributable total income of Tk lac and per certificate income of Tk as on 30 June Dividend Declaration The Fund declared dividend at the rate of percent per certificate of Tk each for the year , which was percent per certificate in the previous year. After making provision of Tk lac for payment of dividend the Fund has an undistributed income of Tk lac The Year-wise dividend performance of the Fund is shown through the following Table: 13

16 Table: Year-wise dividend performance Financial year Dividend percentage Financial year Dividend percentage cvu dvwji m KÛvwi gv K U A_ eq i G dvû wewfbœ LvZwfwËK wmwkdwiwumg~ n j UvKv wewb qvm K i Q 30 Ryb, 2016 Zvwi L G dv Ûi cvu dvwji Z j UvKv µqg~ j i 192 wu Kv úvwb Ges 24 wu wgdpÿ qvj dv Ûi wmwkdwiwur wqj hvi evrvig~j wqj j UvKv 30 Ryb 2016 Zvwi L dv Ûi cvu dvwjii we ÍvwiZ weeiy cwiwkó-g Z cö`wk Z n q Q 30 Ryb 2016 Zvwi L cöwzwu UvKv g~j gv bi Aóg AvBwmwe wgdpÿ qvj dvû mvwu wd K Ui jf vsk ciezx wbu m ú`g~j `uvovq UvKv XvKv K G PÄ wjt-g A_ eq i UvKv g~j gv bi Aóg AvBwmwe wgdpÿ qvj dv Ûi mvwu wd KU cöwz cöviw K I mgvcyx evrvi g~j wqj h_vµ g UvKv I UvKv 30 Ryb 2016 Zvwi L dv Ûi mvwu wd KU nvìvi `i msl v wqj 5646 Rb Portfolio During the Fund invested of Tk lac in securities of different sectors in Secondary Market. As on 30 June 2016 the Fund had securities of 192 companies and 24 mutual funds in its portfolio with a total cost of Tk lac, the market value of which was Tk lac. Details of the portfolio of the Fund as on 30 June 2016 are given in Annexure-A. The ex-dividend net asset value per certificate of Tk each of Eighth ICB Mutual Fund stood at Tk as on 30 June During the opening and closing market price per certificate of the Eighth ICB Mutual Fund of Tk each was Tk and Tk respectively at DSE. The number of Certificate holders of the Fund was 5646 as on 30 June

17 Auditors Report To the Certificate Holders of Eighth ICB Mutual Fund We have audited the accompanying financial statements of Eighth ICB Mutual Fund (the Fund ), which comprise the Statement of Financial Position as at June 30, 2016 and the related Statement of Profit or Loss and Other Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended and a summary of significant accounting policies and other explanatory information disclosed in note 1 to 25 and annexure A to D. Management s Responsibility for the Financial Statements Management of the fund is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh Financial Reporting Standards (BFRS), and for such internal control as management determines is necessary to enable the preparation of Financial Statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosure in the Financial Statements. The procedures selected depend on the auditor s judgment, including the assessment of the risk of material misstatement of the Financial Statements, whether due to the fraud or error. In making those risk assessments, the auditors consider internal control relevant to the fund s preparation and fair presentation of the Financial Statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the fund s internal control. An audit also includes evaluating the appropriateness of accounting policies used and reasonableness of accounting estimates made by management of the fund, as well as evaluating the overall presentation of the Financial Statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements presents fairly, give a true and fair view of the financial position of Eighth ICB Mutual Fund as at June 30, 2016 and their financial performance and Cash Flows for the year then ended in accordance with Bangladesh Financial Reporting Standards (BFRS) and comply with ICB Ordinance 1976, Investment Corporation of Bangladesh ACT-2014 and Securities and Exchange Commission Rules 1987 and other applicable rules and regulations. 15

18 Emphasis of Matter 1. Provision for loss on value of investment, possible fluctuation of price of investment and provision against investment in Non-CDS shares totaling Tk. 128,908, shown in financial statements although entity has unrealized gain of Tk. 59,554, on salable securities which has been disclosed in Note No We also draw attention to Note No of the financial statements which describes the deviation of few requirements of BAS/BFRS due to considering volatile stock market scenario and conservative policy of management. 3. While checking, we found a difference of total quantity of 177,578 shares between Individual share portfolio statement of Central Accounts with CDBL share portfolio statement. Reportedly the reconciliation is under process. Our opinion is not qualified for the matters discussed in preceding paragraph 1 to 3. We also report that: (a) we have obtain all the information and explanations which to the best of our knowledge and belief where necessary for the purposes of our audit and made due verification thereof; (b) in our opinion, proper books of account as required by the law have been kept by the Fund so far as it appeared from our examination of those books; (c) the Statement of Financial Position and Statement of Profit or Loss and Other Comprehensive Income dealt with by the report are in agreement with books of account ; and (d) the expenditure incurred was for the purpose of the Fund s business. Khan Wahab Shafique Rahman & Co. Chartered Accountants Dated: Dhaka July 27, 2016 Rahman Mostafa Alam & Co. Chartered Accountants 16

19 Eighth ICB Mutual Fund Statement of Financial Position As at June 30, 2016 Particulars Notes Amount (In Taka) Assets Investments at Cost 4 348,197, ,907,667 Cash at Bank 5 72,692,710 51,729,167 Dividend and Interest Receivable 6 1,381,475 2,505,239 Installments Receivable of Investments 7 4,448,305 4,956,376 Total Assets 426,719, ,098,449 Liabilities Accrued Expenses 8 62,925 46,925 Unclaimed Dividend 9 49,852,877 43,056,776 Provision for dividend & interest receivable 10 1,611,048 2,113,758 Provision for Loss on value of investments 11 64,323,283 64,323,283 Provision for possible fluctuation of investment 12 48,345,259 64,585,000 Provision against investment in Non-CDS Shares 12.a 16,239,741 - Other Liabilities 13 9,497,637 9,518,579 Total Liabilities 189,932, ,644,321 Net Assets 236,786, ,454,128 Net assets consists of Capital Fund 14 50,000,000 50,000,000 Distributable Income ,786, ,454, ,786, ,454,128 Net Asset Value (NAV) per share: Net assets-at cost 236,786, ,454,128 Net assets-at market value 296,341, ,451,019 Share of capital stock outstanding 5,000,000 5,000,000 Net asset value-at cost Net asset value-at market value The annexed notes 1 to 25 and annexure A to D form an integral part of these financial statements. Mojib Uddin Ahmed Ph.D Chairman Manjur Ahmed Director Md. Iftikhar-uz-zaman Managing Director Md. Emdad Hossain Mollah Chief Financial Officer Dipika Bhattacharjee Company Secretary Signed in terms of our separate report of even date. Khan Wahab Shafique Rahman & Co. Chartered Accountants Dhaka, 27 July, 2016 Rahman Mostafa Alam & Co. Chartered Accountants 17

20 Eighth ICB Mutual Fund Statement of Profit or Loss & Other Comprehensive Income For the year ended 30 June, 2016 Particulars Notes Amount (In Taka) Income Dividend and Interest 16 14,403,861 14,665,233 Interest on Bank Deposits 17 2,171,577 2,817,896 Net realized gain on Investment (Details are shown in Annexure-D) 18 77,893,051 77,083,094 Others Income - 5,518 94,468,489 94,571,742 Expenses Management Fee 19 6,056,381 7,058,058 Custodian Fee , ,852 Listing Fee ,000 60,000 Audit Fee 30,000 14,000 Bank Charges 5,750 19,908 Others Expenses , ,846 7,337,612 8,264,664 Net Income before Provision 87,130,876 86,307,078 Provision: Provision for Loss on value of investments - - Provision for possible fluctuation of investment Net Income for the year 87,130,876 86,307,078 Undistributed Income from previous year 99,655,878 83,147,050 Distributable income carried to Statement of Financial Position 186,786, ,454,128 Earning per certificate during the year The annexed notes 1 to 25 and annexure A to D form an integral part of these financial statements. Mojib Uddin Ahmed Ph.D Chairman Manjur Ahmed Director Md. Iftikhar-uz-zaman Managing Director Md. Emdad Hossain Mollah Chief Financial Officer Dipika Bhattacharjee Company Secretary Signed in terms of our separate report of even date. Khan Wahab Shafique Rahman & Co. Chartered Accountants Dhaka, 27 July, 2016 Rahman Mostafa Alam & Co. Chartered Accountants 18

21 Eighth ICB Mutual Fund Statement of Changes in Equity For the year ended 30 June, 2016 Particulars Capital Fund General Reserve Distributable Income Total Balance as at 01 July ,000, ,147, ,147,049 Net income for the period ,307,078 86,307,078 Dividends - - (60,000,000) (60,000,000) Balance as at 01 July ,000, ,454, ,454,127 Net income for the period ,130,877 87,130,877 Dividends - - (70,000,000) (70,000,000) Prior Year Adjustment , ,750 Balance as at 01 July ,000, ,786, ,786,754 Mojib Uddin Ahmed Ph.D Chairman Manjur Ahmed Director Md. Iftikhar-uz-zaman Managing Director Md. Emdad Hossain Mollah Chief Financial Officer Dipika Bhattacharjee Company Secretary Dated: Dhaka July 27,

22 Eighth ICB Mutual Fund Statement of Cash Flows For the year ended June 30, 2016 Particulars Amount (In Taka) Cash Flows from Operating Activities: Net Income before provision 87,130,876 86,307,078 Add: Prior Year Adjustment 201,750 - Adjustment for: Share Application Money - 1,496,800 Dividend and Interest Receivable 1,123,764 86,066 Other Liabilities (523,652) (14,525) Accrued Expenses 16,000 (2,100) Sale/(Purchase) of Marketable Investments (net) (3,781,296) (43,435,625) Net Cash inflows from operating activities 84,167,442 44,437,694 Cash Flows from Financing Activities: Dividend Paid (60,504,803) (53,026,964) Tax at Source (2,699,096) (1,954,932) Net Cash Outflows from Financing Activities (63,203,899) (54,981,896) Net Increase/(Decrease) in Cash 20,963,543 (10,544,202) Cash and cash equivalents at beginning of the year 51,729,167 62,273,369 Cash and cash equivalents at end of the year 72,692,710 51,729,167 Mojib Uddin Ahmed Ph.D Chairman Manjur Ahmed Director Md. Iftikhar-uz-zaman Managing Director Md. Emdad Hossain Mollah Chief Financial Officer Dipika Bhattacharjee Company Secretary Dated: Dhaka July 27,

23 Eighth ICB Mutual Fund Notes to the Financial Statements As at and for the year ended June 30, The Fund and its activities: 1.1 Status of the fund: Investment Corporation of Bangladesh (ICB) was established in 1976 with the objectives of accelerating industrialization and economic development of the country through development of capital market by mobilizing savings and encouraging and improving the investment climate in the country with particular emphasis placed on broadening the base and scope of investments as well as tapping marginal investors. Keeping in line with these objectives, the Eighth ICB Mutual Fund (the Fund) was established in July 1996, under Regulation 29A of ICB (General) Regulations with a total capital of Tk. 500,00, divided into 50,00,000 Certificates of Tk. 10 each. The management of the Fund is vested with ICB. 1.2 Nature of Business: The business of the Fund is to mobilize savings from the investors by way of selling certificates and investing the funds in securities so as to ensure maximum return for certificate holders. This is a close-end Fund invested in securities as a single account. Income, net of expenses, is distributable to certificate holders on a yearly basis. 2. Basis of preparation: 2.1 Statement of compliance: The financial statements have been prepared accordance with Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting Standards (BFRS) and other applicable laws and regulations. The financial statements have been approved by the Board of Directors of Investment Corporation of Bangladesh in its meeting held on July 27, Basis of accounting: The annexed financial statements have been prepared under historical cost convention. 2.3 Functional and presentation currency: These financial statements are prepared in Bangladeshi Taka which is the Fund s functional currency. All financial information presented in Taka and has been rounded off to the nearest integer. 2.4 Use of estimates and judgments: The preparation of financial statements requires management to make judgment, estimates and assumptions that affect the application of Accounting policies and the reported amounts of assets, liabilities, income and expenses. 2.5 Reported period: These financial statements covers one year from July 01 to June 30 and followed consistently. 21

24 3. Significant Accounting Policies: 3.1 Marketable Investments: (i) (ii) (iii) (iv) Shares and redeemable value of debentures are stated at average cost price for purchases from primary and secondary markets. Profit / Loss on sale of shares are accounted for based on difference between average cost price and selling price. Dividend income from stock is recognized when shareholders right is established. Bonus shares i.e. stock dividend received or receivable from various companies is not accounted for income as per BAS, however, included in the portfolio and as such the average cost price per share of portfolio has been reduced. 3.2 Taxation: The Fund s income is exempted from income tax vide Ministry of Finance SRO no. 88-L/ 80 of April 01, Cash and Bank: Cash and bank balance are carried at fair value. 3.4 General: (i) Except for certain expenses reflected in these financial statements all other expenses including premises and equipment expenses are borne by ICB and, therefore, not reflected in these financial statements. (ii) (iii) Management fee at the rate of 1% % based on amount of capital fund is paid to ICB for management services and support received from the Corporation. Figures in these financial statements have been rounded off to the nearest Taka. Previous year's figures have been rearranged wherever found necessary to conform to current year's presentation. 22

25 Amount (In Taka) Marketable Investments at Cost 348,197, ,907,667 The market value of investments was Tk. 407,751, at the close of business on June 30, 2016 which indicates a surplus of Tk. 59,554, between market price and cost. (See Annexure-A for details) 5.00 Cash at Bank Agrani Bank (Amin Court Branch), STD A/c ,136 3,173 Agrani Bank (Amin Court Branch), STD A/c ,997 71,486 IFIC Bank (Federation Branch), STD A/c ,300 8,827 IFIC Bank (Federation Branch), STD A/c ,935 5,633 IFIC Bank (Federation Branch), STD A/c ,039 99,702 IFIC Bank (Federation Branch), STD A/c IFIC Bank (Federation Branch), STD A/c ,372 9,845 IFIC Bank (Federation Branch), STD A/c ,267 23,034 IFIC Bank (Federation Branch), STD A/c ,828 10,278 IFIC Bank (Federation Branch), STD A/c ,294 18,314 IFIC Bank (Federation Branch), STD A/c , IFIC Bank (Federation Branch), STD A/c , ,364 IFIC Bank (Federation Branch), STD A/c , ,125 IFIC Bank (Federation Branch), STD A/c ,318,219 3,249,150 IFIC Bank (Motijheel Branch), Current A/c ,114 3,381,566 IFIC Bank (Motijheel Branch), STD A/c ,147,873 35,979,521 IFIC Bank (Federation Branch), SND A/c ,387,195 3,505,493 IFIC Bank (Federation Branch), SND A/c ,289,973 4,242,264 IFIC Bank (Federation Branch), SND A/c ,180 - Total: 72,692,710 51,729, Dividend and Interest Receivable Dividend Receivable for more than one year 428, ,481 Interest on Debenture Receivable for more than one year - 502,710 Dividend Receivable for less than one year 952,995 1,574,048 Total: 1,381,475 2,505,239 (See Annexure-B for details) 6.01 Movement of Dividend and Interest Receivable Opening Balance 2,505,239 2,591,305 Add: Receivable during the year 952,995 1,574,048 Less: Received during the year (2,076,759) (1,660,114) Closing Balance 1,381,475 2,505,239 23

26 Amount (In Taka) Installments Receivable of Investments Opening Balance 4,956,376 4,956,376 Less: Installments received during the period 508,071-4,448,305 4,956, Installments received during the period 1. Bextex Ltd. (10th Installment) 156, Bextex Ltd. (11th Installment) 328, Beximco Ltd. (10th Installment) 7, Beximco Ltd. (11th Installment) 7, Beximco Ltd. (11th Installment) 7, , Accrued Expenses Opening Balance 46,925 49,025 Add : Payable During the Year - Audit Fee 30,000 14,000 CDBL Charges - - Others/Advertisement bill - - Less : Adjustment During the Year 14,000 16,100 Total: 62,925 46, Unclaimed Dividend Opening Balance 43,056,776 38,038,672 Add: Dividend Declared during the year 70,000,000 60,000,000 Less: Dividend paid during the year (60,504,803) (53,026,964) Less: Tax deducted at source during the year (2,699,096) (1,954,932) Closing balance 49,852,877 43,056, Provision for dividend & interest receivable 2,113,758 2,113,758 Less: Adjustment made during the year (502,710) - 1,611,048 2,113, Provision for Loss on value of investments Opening balance 64,323,283 64,323,283 Add: Provision during the year - - Closing Balance 64,323,283 64,323, Provision for possible fluctuation of investment Opening balance 64,585,000 64,585,000 Less: Provision transferred to Provision against investment in Non-CDS Shares (16,239,741) - Closing Balance 48,345,259 64,585, a Provision against investment in Non-CDS shares 16,239,741-24

27 Amount (In Taka) Other Liabilities Opening balance 9,518,579 9,533,104 Less: Adjustment during the year (20,942) (14,525) Closing Balance 9,497,637 9,518, Capital Fund 50,000,000 50,000,000 The Capital Fund is divided into 5,000,000 certificates of Tk. 10 each fully paid up in cash Distributable Income Opening Balance 169,454, ,147,049 Less: Dividend Declared (70,000,000) (60,000,000) 99,454,128 83,147,049 Add: Net Income 87,130,876 86,307,078 Add: Prior Year Adjustment 201,750 - Closing Balance 186,786, ,454, Dividend & Interest Dividend 14,398,158 14,665,233 Interest 5,703 - Total: 14,403,861 14,665, Dividend Dividend Received During the Year 13,445,163 14,665,233 Dividend Receivable During the Year 952,995 - (See Annexure- B & C for details) 14,398,158 14,665, Interest on Bank Deposits 2,171,577 2,817, Other Income Re-issuance charge - 5,518 Splitting Charge Refunded - - Prior Year Adjustment - - Total: - 5, Management Fee 6,056,381 7,058,058 Management fee calculated as per BSEC rules is paid to ICB for management services and support received from the Corporation. 25

28 Amount (In Taka) Custodian Fee 442, ,852 Custodian fee calculated as per BSEC rules is paid to ICB for the services as Custodian. 100% of the Fees has been charged during the FY as per the decision of the Board of Directors Listing Fee Dhaka Stock Exchange 50,000 30,000 Chittagong Stock Exchange 50,000 30,000 Total: 100,000 60, Other Expenses Stock exchange charge 285, ,845 Miscellaneous 2,550 3,450 CDBL charge 51,060 48,903 SEC yearly fees 276, ,161 Advertisement expenses 50,000 50,000 Excise Duty 37,650 18,300 Tax on Interest Vat - - Total: 702, , Disclosure of deviations from few requirements of BAS/BFRS There have been few deviations from the requirements of BAS/BFRS which are shown below along with financial impact where applicable: (a) Investments in quoted and unquoted shares are revalued at year-end at cost price. However, adequate provision are kept when market value is lower than cost price. Investments have not been accounted in market value (MV) which is a very newly adopted accounting standard in Bangladesh. In the Financial Statement this standard has not been considered due to volatile stock market scenario, conservative policy of fund management and prevailing dividend policy of mutual fund. At the yearend market value (for quoted shares) and book value (for unquoted shares) are higher than cost price by Tk. 59,554, (b) Some disclosure and presentation requirements as per BFRS 7 and BAS 32 regarding risk management have not been made in the financial statements. However, management of the fund is prudent in risk management which is evident from steady growth of the fund. The fund is not exposed to any foreign currency and interest rate risk. 26

29 24.00 Investments have been valued on aggregate portfolio basis and provision is required to be made considering overall decrease in the value of investment. The fund maintains provision for loss on value of investment, provision for possible price fluctuation and provision against investment in Non-CDS Shares which is shown in Statement of Financial Position under liabilities amounting to Tk. 128,908, Event after the reporting date The Board of Directors of Investment Corporation of Bangladesh declared cash dividend of Tk. 20 per certificate for the year ended 30 June 2016 in its meeting held on 27th July, Mojib Uddin Ahmed Ph.D Chairman Manjur Ahmed Director Md. Iftikhar-uz-zaman Managing Director Md. Emdad Hossain Mollah Chief Financial Officer Dipika Bhattacharjee Company Secretary 27

30 Eighth ICB Mutual Fund Individual Portfolio Report As on 30 June, AB Bank Ltd. 132, ,700, ,080, Al Arafa Islami Bank Ltd. 20, , , Bank Asia Limited 123, ,957, ,968, BRAC Bank Ltd , , City Bank Ltd. 25, , , Dhaka Bank Ltd. 29, , , Dutch Bangla Bank Limited , Eastern Bank Ltd. 58, ,662, ,721, Exim Bank Of Bangladesh Ltd. 33, , , First Security Bank Ltd. 240, ,786, ,972, I.F.I.C. Bank Ltd. 172, ,861, ,738, Islami Bank Ltd. 165, ,694, ,831, Jamuna Bank Limited 99, ,986, ,181, Mercantile Bank Limited 15, , , Mutual Trust Bank Ltd. 136, ,297, ,351, N C C Bank Ltd. 98, , , National Bank Ltd. 1, , One Bank Limited 40, , , Premier Bank Limited , , Prime Bank Limited 125, ,383, ,988, Pubali Bank Ltd. 33, , , Shahjalal Islami Bank Ltd. 36, , , Social Islami Bank Limited 34, , , Southeast Bank Limited 124, ,479, ,974, Standard Bank Limited 276, ,460, ,298, Trust Bank Ltd. 295, ,013, ,460, United Comercial Bank Ltd. 25, , , Uttara Bank Ltd. 17, , , Confidence Cement Ltd. 11, , , Heidelberg Cement Bd. Ltd. 19, ,414, ,238, Lafarge Surma Cement Ltd. 176, ,076, ,965, M.I. Cement Factory Limited 15, ,242, ,123, Meghna Cement Mills Ltd. 44, ,130, ,866, Fu-Wang Ceramics Inds.Ltd. 12, , , Monno Ceramic Industries Ltd. 3, , , Rak Ceramics(Bangladesh) Ltd. 16, , , Shinepukur Ceramics Ltd. 36, ,933, , Standard Ceramic Ltd. 1, , , Mudaraba Perpetual Bond 7,185 1, ,182, ,104, Aftab Automobiles Ltd. 22, ,439, ,078, Bangladesh Building System Ltd 7, , , Bengal Windsor Thermoplastics Ltd. 2, , , Bsrm Limited , Bsrm Steels Limited 20, ,483, ,871, Eastern Cables Ltd. 1, , , Golden Son Ltd , , Navana Cng Limited 82, ,865, ,795, Singer Bangladesh Ltd. 51, ,482, ,864, Western Marine Shipyard Ltd. 7, , , Wonderland Toys Limited 27, , ,842, B A T B C , , , Bangas Ltd. 1, , , Fine Foods Limited Fu-Wang Foods Limited 2, , , Gemini Sea Food Ltd , , Golden Harvest Agro Ind. Ltd. 46, ,047, ,266, National Feed Mill Ltd 2, , , Olympic Industries Ltd , , Rangpur Dairy & Food Prod Ltd. 2, , , Bangladesh Welding Electrodes 1, , ,

31 61 Baraka Power Limited. 10, , , Dhaka Electric Supply Co. Ltd. 21, , ,096, Gbb Power Limited 75, ,443, ,081, Jamuna Oil Company Ltd. 15, ,664, ,786, Khulna Power Company Ltd. 16, ,108, ,082, Linde Bangladesh Ltd. (Boc) 7, , , ,490, Meghna Petroleum Ltd. 44, ,606, ,728, Mjl Bangladesh Limited 197, ,857, ,007, Power Grid Co. Bd. Ltd. 116, ,383, ,778, Summit Power Ltd. 109, ,383, ,706, Summit Purbanchol Power Co Ltd 131, ,941, ,321, Titas Gas Transmission & D.C.L 272, ,001, ,184, Anlima Yarn Dyeing Ltd. 1, , , Apex Spinning & Knitting 1, , , Apex Weaving & Finishing Mills 268, ,484, ,207, Delta Spinners Ltd. 90, , , Envoy Textiles Ltd. 9, , , Generation Next Fashions Ltd. 5, , , H.R.Textile Mills Ltd. 2, , , Hamid Fabrics Limited 8, , , Hamid Fabrics Ltd. 1, , , Maksons Spinning Mills Ltd. 660, ,434, ,818, Malek Spinning Mills Ltd. 155, ,732, ,633, R. N. Spinning Mills Limited 84, ,431, ,544, Safko Spinning Mills Ltd. 3, , , Saiham Cotton Mills Ltd. 11, , , Saiham Textile Mills Ltd. 24, , , Sajib Knitwear & Garments Ltd. 17, , , Shasha Denims Ltd 4, , , Square Textiles Ltd 30, ,438, ,148, Tallu Spinning Mills Ltd. 270, ,235, ,980, Aamra Technologies Ltd. 225, ,541, ,282, Bdcom Online Limited , Agrani Insurance Co. Ltd. 40, , , Asia Insurance Limited 18, , , Asia Pacific General Insurance 15, , , Bangladesh Gen. Insurance Co. 66, , , City General Insurance Co. Ltd 96, , ,042, Continental Insurance Ltd. 37, , , Dhaka Insurance Limited 14, , Eastern Insurance Co.Ltd. 37, , , Eastland Insurance Co.Ltd. 76, , ,362, Fareast Islami Life Insurance 3, , , Global Insurance Ltd. 25, , , Green Delta Insurance 5, , , Islami Insurance Bd Ltd. 31, , , Mercantile Insurance Co. Ltd 62, , , Nitol Insurance Company Ltd. 14, , , Northern General Insurance Co 10, , , Padma Islami Life Insurance 2, , , Paramount Insurance Co. Ltd. 52, , , Phoenix Insurance Co.Ltd. 27, , , Pioneer Insurance Company Ltd 104, ,050, ,222, Pragati Insurance Ltd. 6, , , Prime Insurance Company Ltd. 96, , ,385, Prime Islami Life Insurance Lt 22, , ,355, Provati Insurance Company Ltd. 24, , , Reliance Insurance Co. Ltd 19, , , Republic Insurance Co. Ltd. 10, , , Rupali Insurance Company Ltd 122, ,004, ,599, Rupali Life Insurance Co. Ltd. 29, , ,026, Sandhani Life Insurance Co.Ltd 70, , ,509, Sonar Bangla Insurance Ltd. 54, , , Standard Insurance Ltd. 15, , ,

32 125 Sunlife Insurance Co. Ltd. 6, , , Takaful Islami Insurance Ltd. 11, , , United Insurance Ltd. 24, , , Dbh First Mutual Fund 29, , , Ebl First Mutual Fund 99, , , Exim Bank 1st Mutual Fund 118, ,000, , First Janata Bank Mutual Fund 178, ,368, , Grameen One : Scheme Two 13, , , Green Delta Mutual Fund 153, ,346, , Icb Amcl First Mutual Fund 11, , , Icb Amcl First Nrb Mutual Fun 50, , , Icb Amcl Islamic Mutual Fund , , Icb Amcl Second Mutual Fund 311, ,595, ,648, Icb Amcl Second Nrb M.F. 127, ,261, ,028, Icb Amcl Sonali Bank 1st Mf 520, ,191, ,227, Icb Amcl Third Nrb Mutual Fund 172, ,628, , Icb Employees Prov.M.F.One:S.O 219, ,177, ,426, Ific Bank 1st Mf 51, , , Ifil Islamic Mutual Fund-1 594, ,245, ,039, Mbl 1st Mutual Fund 85, , , Nccbl Mutual Fund-1 45, , , Phoenix Finance 1st Mf 37, , , Popular Life First Mutual Fund 206, ,660, , Prime Bank 1st Icb Amcl M Fund 66, , , Prime Finance First Mutual Fun 1, , , Trust Bank 1st Mutual Fund 248, ,382, ,268, Aramit Limited 4, , ,672, Bangladesh Shipping Corp.(Bsc) 28, ,038, ,440, Beximco Limited(Share) 177, ,960, ,251, Khan Brothers Pp Woven Bag Ind 35, , , Miracle Industries Ltd , , Olympic Accessories Ltd 2, , , Bangladesh Fin. & Inv. Co. Ltd 30, , , Bangladesh Inds. Finance Co. 46, , , Bay Leasing & Investment Ltd. 4, , , Delta Brac Housing Finance Cor 8, , , Fareast Finance & Investment 116, , , FAS Finance And Investment Ltd 89, , , First Finance Limited. 39, , , Gsp Finance Company (Bd) Ltd. 14, , , I P D C I.D.L.C 10, , , Intl. Leasing & Fin. Services 11, , , Islamic Finance And Investment 3, , , Lankabangla Finance Ltd. 23, , , Peoples Leasing & Fin. Servic Phoenix Finance & Inv. Ltd 103, , ,724, Premier Leasing International 100, , , United Finance Ltd. 62, , ,101, Uttara Finance & Invest. Ltd 63, ,320, ,338, Aci Formulations Limited 1, , , Aci Limited 18, , ,288, Active Fine Chemicals Limited 2, , , Beacon Pharmaceuticals Ltd. 84, , ,460, Beximco Pharmaceuticals Ltd. 320, ,610, ,765, Beximco Synthetics(Share) 1, , , Global Heavy Chemicals Ltd. 4, , , Imam Button Industries Ltd. 4, , , Keya Cosmetics Limited 66, ,250, , Orion Infusions Ltd(Mala) , , Orion Pharma Limited 111, ,370, ,106, Reckitt Benckiser (Bd) Ltd. 5, , , ,580, Salvo Chemical Industry Ltd. 1, , , Square Pharmaceuticals Ltd. 65, ,135, ,388,

33 189 Wata Chemicals Ltd. 55, , ,368, Eastern Housing Limited(Share) 18, , , Samarita Hospital Ltd. 8, , , Summit Alliance Port Ltd. 1, , , Bata Shoes (Bd) Ltd , , , Bangladesh Submarine Cable Co. 63, ,820, ,965, Grameenphone Ltd. 163, ,233, ,613, Unique Hotel & Resorts Limited 84, ,164, ,933, United Airways (Bd) Limited 526, ,479, ,421, Aramit Cement Ltd. (Deb) 730 2, , , Bengal Fine Ceramics Ltd , , Meghna Shrimp Ltd. 3, , , Bangladesh Zipper Inds.Ltd 8, , , Chic Tex Limited 135, ,353, , M.H.Garments Washing & Dying 10, ,000, , Mita Textiles Ltd. 7, , , Bd Luggage Ind.(Share) 2, , , Maq Enterprises Ltd. 10, ,064, , Maq Paper Industries Ltd. 11, ,693, , Perfume Chemical(Manola) In Ld 8, , , Excelsior Shoes Limited 25, ,116, ,731, Bd. Welding Electrodes (Deb) 92 2, , , Jago Corporation Limited 9, , , Icb Amcl Conv. First Unit Fund 27, , , Dhaka Vegetable Oil Inds.Ltd , , Meghna Vegetable Oil Ind.Ltd. 4, , , Mark Bd. Shilpa And Eng 10, ,179, , Paragon Leather & Footwear Ltd 50, ,696, , ,395, ,197, ,751,

34 Eighth ICB Mutual Fund Statement of Dividend and Interest Receivable for FY Anlima Yarn Dyeing Ltd. 67, Anlima Yarn Dyeing Ltd Apex Weaving & Finishing Mills Ltd Bangladesh Zipper Ind. Ltd. 6, % 17, BD. Luggage 2, % 5, BD. Zipper 6, % 29, Chick Textiles Ltd. 135, % 34, DeltaMillers Ltd. 10, % 42, Eastern Cables Ltd. 10, % 85, Eastern Cables Ltd % 1, Fahad Industries Ltd. 100, % 50, M.H Garments Washing 10, % 42, Meghna Shrimp 3, % 33, Singer BD. Ltd. 91, % 10, Beximco Pharma Ltd. 91, % 1, First Lease Int. Ltd. 1, % 6, Shinpukur Ceramics Ltd % SL. No. Dividend Receivable for less than one year : Name of the Company No. of Shares Held Par Value (TK.) Rate of Dividend Declared (%) Amount (TK.) 1 Provati Insurance Co. Ltd. 22, % 13, Dhaka Insurance Co. Ltd. 14, % 18, Mercentile Insurance Co. Ltd. 62, % 62, BD. General Insurance Co. Ltd. 66, % 73, Pragati Insurance Co. Ltd. 6, % 6, Continental Insurance Co. Ltd. 35, % 17, Asia Insurance Co. Ltd. 18, % 18, Pioneer Insurance Co. Ltd. 104, % 157, Agrani Insurance Co. Ltd. 38, % 19, Eastland Insurance Co. Ltd. 69, % 69, Lafarge Surma Cement Ltd. 176, % 88, Reckit Benckiser (BD.) Ltd. 5, % 86, Beximco Pharma. Ltd. 320, % 320,

35 SL. No. Eighth ICB Mutual Fund Statement of Dividend Received During FY Name of Company No. of Shares Held Par Value (TK.) Rate of Dividend Declared Annexure-C Amount (TK.) 1 Eastern Insurance Co Ltd. 37, % 74, Shasha Denims Ltd 4, % 4, Prime Islami Life Insurance Ltd 24, % 37, Asia Pacific General Insurance Ltd 15, % 15, Fareast Islami Life Insurance Ltd 2, % 10, ICB AMCL1st NRB Mutual Fund 50, % 160, ICB AMCL2nd NRB Mutual Fund 127, % 127, ICB AMCL2nd Mutual Fund 311, % 155, ICB Employees Provident Mutual Fund 1 219, % 164, Prime Bank 1st ICB AMCL Mutual Fund 66, % 46, Phoenix Finance 1st Mutual Fund 37, % 18, ICB AMCL 3rd NRB Mutual Fund 172, % 86, IFIL Islamic Mutual Fund-1 594, % 594, ICB AMCL Sonali Bank 1st Mutual Fund 520, % 520, Green Delta Mutual Fund 153, % 68, DBH 1st Mutual Fund 29, % 11, Linde BD Ltd 16, % 321, Reckitt Benckiser(BD) Ltd 5, % 290, ICB AMCL Convertible First Unit Fund 27, % 13, Meghna Cement Mills Ltd 2, % 3, Global Heavy Chemical Ltd. 4, % 4, Sonar Bangla Insurance Ltd. 51, % 30, Uttara Finance and Investment Ltd 57, % 114, Asia Insurance Co.Ltd 18, % 18, Grameen Phone Ltd 163, % 1,307, Lafarge Surma Cement Ltd 201, % 100, Square Pharmaceuticals Ltd. 183, % 549, Grameen M/F One-Scheme Two 12, % 12, Apex Spinning & Knitting Mills Ltd. 1, % 3, Saiham Cotton Mills Ltd. 10, % 5, Eastern Housing Ltd. 24, % 37, Delta Brac Housing Finance Corporation 13, % 40, Bata Shoe Company Bangladesh Ltd % 10, Aamra Technologies Ltd. 211, % 211, Gemini Sea Food % 1, MI. Cement Factory Ltd. 15, % 37, Olympic Accessories Ltd. 2, % 1, Titas Gas Transmission & Distribution Co.Ltd. 272, % 409,

36 SL. No. Name of Company No. of Shares Held Par Value (TK.) Rate of Dividend Declared Amount (TK.) 39 Orion Infusion Ltd % Standard Ceramic Industries Ltd. 1, % 1, Olympic Industries Ltd. 7, % 22, Envoy Textiles Ltd. 9, % 16, Anlima Yarn Dyeing Ltd. 10, % 10, Malek Spinning Mills Ltd. 155, % 186, Samorita Hospital Ltd. 22, % 45, Aftab Automobiles Ltd. 14, % 22, Monno Ceramic Ltd. 3, % 1, BDCOM Online Ltd % Hamid Fabrics Ltd. 1, % 1, Eastern Lubricants Blenders Ltd 2, % 8, Dhaka Electric Supply Company Ltd 20, % 20, Power grid Company of Bangladesh 116, % 175, Eastern Cables Ltd 1, % 2, Delta Spinners Ltd. 90, % 45, Prime Finance 1st Mutual Fund 1, % Meghna Petroleum Ltd. 60, % 631, Jamuna Oil Company Ltd 15, % 153, Dutch Bangla Bank Ltd 4, % 19, Green Delta Insurance Company Ltd 5, % 13, One Bank Ltd 22, % 28, Grameen Phone Ltd 163, % 980, NCCBL Mutual Fund-1 45, % 29, Bangladesh Steel Re-Rolling Mills Ltd % BSRM Steels Ltd 30, % 90, IDLC Finance Ltd 10, % 27, Lanka Bangla Finance Ltd 3, % 5, Reliance Insurance Ltd. 17, % 25, H.R Textiles Mills Ltd 2, % 2, Prime Insurance Company Ltd 96, % 121, Prime Bank Ltd. 115, % 173, Al-Arafah Islami Bank Ltd % Summit Purbanchal Power Company Ltd 131, % 327, Summit Power Ltd 103, % 123, First Security Islami Bank Ltd 225, % 225, Pubali Bank Ltd 23, % 28, Uttara Bank Limited 10, % 20, Bank Asia Ltd 103, % 155, Linde BD.Ltd 16, % 176, United Finance Ltd 84, % 42,

37 SL. No. Name of Company No. of Shares Held Par Value (TK.) Rate of Dividend Declared Amount (TK.) 80 South-East Bank Ltd 109, % 163, BATBC % 12, Heidelberg Cement Bd. Ltd 28, % 843, RAK Ceramics Bd. Ltd 16, % 41, Mercentile Bank Ltd 6, % 8, Eastern Bank LTD 42, % 84, United Insurance Company Ltd 23, % 13, Social Islami Bank Ltd 25, % 37, GSP Finance Company (BD) Ltd 14, % 22, Takaful Islami Insurance Ltd 10, % 5, Trust Bank Ltd 197, % 138, Khulna Power Company ltd. 16, % 66, Dhaka Bank Ltd 27, % 16, Uttara Finance and Investment Ltd 63, % 189, Phoenix Finance and Investment Ltd 129, % 258, Islami Bank Bd Ltd. 120, % 240, Islamic Finance & Investment Ltd. 3, % 3, ACI Ltd. 18, % 209, ACI Formulations Ltd. 1, % 4, IBBL Mudaraba Perpetual Bond 7, % 742, MBL 1st Mutual Fund 85, % 85, Rupali Insurance Company Ltd 116, % 116, BRAC Bank Ltd 11, % 29, Bata Shoe Company (BD) Ltd % 5, Jamuna Bank Ltd 99, % 193, Bay Leasing and Investment Ltd 4, % 7, Aramit Ltd. 4, % 20, GBB Power Ltd 75, % 75, NCC Bank Ltd 93, % 119, Phoenix Insurance Co. Ltd 27, % 49, Shahjalal Islami Bank Ltd 36, % 47, Fareast Finance and Investment Ltd 11, % 11, Total 6,838,398 13,445,

38 Eighth ICB Mutual Fund Statement of Profit on Sale of Securities During FY Annexure-D 1 Delta Brac Housing Finance Corp. 5, , , ,367 2 Phoenex Finance & Inv. Ltd 26, , , ,936 3 United Finance Ltd 30, , , ,788 4 BRAC Bank Ltd 20, , , ,575 5 Dutch Bangla Bank Ltd 5, , , ,855 6 IFIC Bank Ltd 100, ,253,790 2,260,000 6,210 7 Islami Bank Bangladesh Ltd. 253, ,358,024 7,674,726 4,316,702 8 Bengal Windsor Thermoplastics Ltd. 5, , , ,760 9 BSRM Ltd ,000 70,800 56, BSRM Steels Ltd. 12, ,459 1,251, , Eastern Cables Ltd 2, , , , BATBC , , , Bangas Ltd. 1, , , , Gemini Sea Food Ltd. 1, , , , Olympic Industries Ltd. 12, ,168 3,822,100 3,259, Eastern Lubricants 2, ,492 3,457,250 3,150, Jamuna Oil Co. Ltd. 10, ,085,674 2,099,000 1,013, Linde Bd Lid. ( BOC) 8, ,138,981 12,389,920 11,250, Meghna Petrolium Ltd. 15, ,228,374 2,592,082 1,363, Anlima Yarn Dyeing Ltd 9, , , , Square Textiles Ltd 3, , , , Tamizuddin Textiles Ltd 28, , , , ACI Ltd. 6, ,736 3,350,900 3,175, Beximco Pharmacuticals Ltd. 121, ,154,899 10,191,120 5,036, Central Pharmacuticals Ltd. 10, , , , Ibne Sina Pharma Ltd. 12, ,934 1,495,138 1,266, Orion Infusions Ltd(Mala) 34, ,692 1,901,140 1,444, Reckitt Benckiser Bd Ltd , , , Square Pharmacuticals Ltd. 145, ,237,842 36,909,640 29,671, Eastern Housing Ltd (Share) 9, , , , Samarita Hospital Ltd 14, ,997 1,053, , Heidelberg Cement Ltd 8, ,346,986 4,496,290 2,149, Lafarge Surma Cement Ltd 25, ,285,235 3,030,000 1,744, Apex Tannery Ltd 5, , , , Rak Ceramics(Bd)Ltd 15, ,576 1,150, , Prime Islami Life Insurance Ltd 5, , , ,152 36

39 AvBwmwei Awdmmg~n cöavb Kvh vjq wewwwegj feb ( j fj 14-17) 8, ivrdk A v fwbd, XvKv-1000 cvó e bs-2058 Kej- INVESTCORP dvb: (A Uv nvw Us) d v : B- gbj: md_sec@icb.gov.bd I qe mvbu: kvlv Kvh vjqmg~n: PÆMÖvg kvlv AvBDe UªW m Uvi (11 Zjv) 1269/we, kl gywre ivw, AvMÖvev`, PÆMÖvg dvb : (031) , d v : B- gbj : agm_ctg@icb.gov.bd ivrkvnx kvlv Wvt Mvd&dvi cøvrv (3q Zjv) mv ne evrvi, Nvovgviv, ivrkvnx dvb : (0721) , B- gbj : agm_raj@icb.gov.bd Lyjbv kvlv wewwwegj feb (4_ Zjv) 25-26, KwWG evwywr K GjvKv, Lyjbv dvb : (041) , B- gbj : agm_khulna@icb.gov.bd ewikvj kvlv ewikvj cøvrv (3q Zjv) 87-88, ngv qz DwÏb ivw, ewikvj dvb : (0431) B- gbj : agm_barisal@icb.gov.bd wm ju kvlv Avb ` UvIqvi GÛ kwcs Kg cø (3q Zjv) avcvw`nxi DËi cvo, Rj ivw, wm ju dvb : (0821) , B- gbj : agm_sylhet@icb.gov.bd e ov kvlv Avdmvi Avjx Kg cø (5g Zjv) ivrv evrvi ivw, eo Mvjv, e ov dvb : (051) 66940, B- gbj : agm_bogra@icb.gov.bd vbxq Kvh vjq Kvmwdqv cøvrv (2q Zjv) 35/wm, bqvcëb, wfavbwc ivw, XvKv-1000 dvb : (02) , B- gbj: agm_local@icb.gov.bd Offices of ICB Head Office BDBL Bhaban (Level 14-17) 8, Rajuk Avenue, Dhaka-1000 Post Box no Cable-INVESTCORP Phone : (auto hunting) Fax : md_sec@icb.gov.bd web site : Branch Offices: Chittagong Branch Ayub Trade Center (10 th Floor) 1269/B, Sheikh Mujib Road, Agrabad, Chittagong Phone : (031) , Fax : agm_ctg@icb.gov.bd Rajshahi Branch Dr. Gaffar Plaza (2nd floor) Shaheb Bazar, Ghoramara, Rajshahi Phone : (0721) , agm_raj@icb.gov.bd Khulna Branch BDBL Bhaban (3rd floor) 25-26, KDA Commercial Area, Khulna Phone : (041) , agm_khulna@icb.gov.bd Barisal Branch Barisal Plaza (2nd floor) 87-88, Hemayet Uddin Road, Barisal Phone : (0431) agm_barisal@icb.gov.bd Sylhet Branch Ananda Tower & Shopping Complex (2nd floor) Dhupadighir Uttarpar, Jail Road, Sylhet Phone : (0821) , agm_sylhet@icb.gov.bd Bogra Branch Afsar Ali Complex (4th floor) Raja Bazar Road, Borogola, Bogra Phone : (051) 66940, agm_bogra@icb.gov.bd Local Office Kashphia Plaza (1st floor) 35/C, Nayapaltan, VIP Road, Dhaka-1000 Phone : (02) , agm_local@icb.gov.bd 37

40 Note: ANNUAL REPORT ICB Mutual Fund

41 Note: ANNUAL REPORT ICB Mutual Fund

42 Note: ANNUAL REPORT ICB Mutual Fund

43

44 BDBL Bhaban (14-17th Level) 8, Rajuk Avenue, Dhaka-1000, Bangladesh. Tel: PABX , Fax: Web: