The Bangladesh Securities and Exchange Commission today approved an open-ended mutual fund of Investasia Capital and Asset Management.

Primary target of the fund titled 'Investasia Balance Unit Fund' is Tk 50 crore. Of that, Tk 5 crore was provided by its fund manager Investasia Capital and Asset Management and the rest of the fund is open for the general investors.

Each unit price of the fund is Tk 10. The trustee and custodian of the fund is Sentinel Trustee and Custodial Services Limited.

Mutual funds pool money from investors to channel it into securities such as stocks, bonds, and other assets. Depending on the profits earned, investors are then paid their share as dividends.

Open-ended mutual funds are not listed with the stock market but one can buy them from a fund manager's office on the basis of its net asset value.

Similarly, investors can sell off fund units at any time at prices based on its current net asset value.