Meghna Life Insurance Company Ltd has decided to sponsor Sandhani AML-Meghna Life Income Fund. Bangladesh Securities and Exchange Commission (BSEC) approved the proposal last week.
The size of the open-end fund will be Tk 20 crore and sponsors’ contributions will be Tk 5 crore. About 70 per cent income of the open-end mutual fund will be distributed to its unitholders. The submission date has been set 15 October.
Moreover, the company has declared a 30 per cent dividend (15 per cent cash and 15 per cent stock) for its shareholders for the year 2020.
The proposed trustee and the custodian of the fund are Bangladesh General Insurance Company Limited and BRAC Bank, respectively.
The company will hold an annual general meeting (AGM) on 27 October this year, and aims to declare the dividend and audited financial statement.
Source: The Business Standard