An open-ended mutual fund of Ekush Wealth Management has got go-ahead from Bangladesh Securities and Exchange Commission (BSEC).

Yesterday, the BSEC approved the draft prospectus of the fund named Ekush Stable Return Fund. Primary target of the fund is Tk 25 crore.

Of the Tk 25 crore, Tk 2.5 crore has been funded by its sponsor. Rest of the fund would be open for general investors.

Face value of each unit of the fund is Tk 10. Its trustee and custodian are Sandhani Life Insurance and Brac Bank respectively.