This comprehensive guide covers everything about Impress Capital Limited's mutual funds, including ICL Balanced Fund, BCB ICL Growth Fund, Esquire ICL Apparel Fund, and ICL INCTL Shariah Fund. Learn about their performance, NAV, investment process, benefits, and why ICL is one of Bangladesh's leading wealth management service providers.

What Is Impress Capital Limited?

Impress Capital Limited (ICL) is a premier asset management company and wealth management service provider in Bangladesh, operating as a concern of the renowned Impress Group. Located at Evergreen Plaza (1st Floor), 260/B Tejgaon Industrial Area, Dhaka 1208, ICL specializes in managing mutual funds and alternative investment funds for both individual and institutional investors.

Key Facts About Impress Capital Limited

• Full Name: Impress Capital Limited (ICL)
• Parent Company: Impress Group
• Office Address: Evergreen Plaza (1st Floor), 260/B Tejgaon I/A, Dhaka 1208, Bangladesh
• Phone: +880 2 9830776
• Fax: +880 2 9831138
• Email: info@impresscapital.com
• Website: www.impresscapital.com
• Business Focus: Wealth management services including Mutual Funds, Alternative Funds, and Advisory
• Market Position: One of the leading wealth management service providers in Bangladesh
• Management Approach: Expert, experienced, and professional Fund Management team

ICL's Mission and Vision

ICL aims to achieve sustainable development as one of the leading wealth management service providers in Bangladesh through strategic planning and implementation. The company focuses on positioning wealth management services in the local market with a commitment to transparency, professional management, and superior risk-adjusted returns.

Impress Capital Limited's Mutual Fund Products: Complete Overview

Impress Capital Limited manages four distinct mutual fund products, each designed for different investor needs, risk profiles, and investment objectives:

ICL Balanced Fund

Type: Open-end Mutual Fund

Investment Profile: Standardized product for both individuals and institutions

Key Features:

• Balanced portfolio mixing equity and fixed-income investments
• Suitable for moderate-risk investors
• Diversification across multiple sectors
• Weekly NAV calculation and publication
• Tax benefits available
• Fund withdrawal benefit
• No lock-in period for open-ended structure

Target Audience: Both individuals and institutions seeking balanced growth with moderate risk

BCB ICL Growth Fund

Type: Open-end Mutual Fund

Sponsor: Bangladesh Commerce Bank Limited (BCBL)

Asset Manager: Impress Capital Limited (ICL)

Trustee: Investment Corporation of Bangladesh (ICB)

Custodian: BRAC Bank Limited (BBL)

Fund Highlights:

• Type: Open-end Mutual Fund
• Life and Size: Perpetual life and unlimited size
• Objective: Identify and invest in listed undervalued equity instruments with above-average and sustainable growth potential over long-term to increase value of Investors' wealth
• Initial Issue Size: BDT 250,000,000 (Two Hundred Fifty Million)
• Initial Number of Units: 25,000,000 (Twenty-Five Million) units
• Initial Offer Price: BDT 10 (Ten) per unit
• Sponsor's Contribution: BDT 100,000,000 (One Hundred Million)
• Initial Public Offering: BDT 150,000,000 (One Hundred Fifty Million)
• Initial Subscription Period: April 01, 2018 to May 15, 2018
• Face Value: BDT 10 (Ten) per unit
• Minimum Application Amount: BDT 1,000 per application (100 units) for individuals; BDT 100,000 per application (10,000 units) for institutions (not applicable for SIP investor)
• Investment Focus: Undervalued equity instruments with sustainable growth potential
• NAV Calculation: Weekly basis, published on www.impresscapital.com

Target Group:

• Individuals (both resident and non-resident)
• Institutions (both local and foreign)
• Mutual funds
• Collective investment schemes

Brokers for BCB ICL Growth Fund

• BRAC EPL Stock Brokerage Limited
• City Brokerage Limited
• Commerce Bank Securities and Investment Limited

Dividend Policy

Fund will distribute at least 50% of net profit as dividend in Bangladesh Taka per accounting year.

Esquire ICL Apparel Fund

Type: Impact-based Unit Fund

Objective

Catalyze new funding for the apparel sector.

Key Features

• Impact investing focused on apparel industry
• Unit fund structure
• Growth potential in textile/apparel sector
• Weekly NAV calculation
• Suitable for investors interested in sector-specific impact investing

Current NAV Performance (as of May 14, 2026)

• NAV per Unit: BDT 12.89
• Weekly Change: 0.00%
• 1-Year Return: 14.00%
• 3-Year Return: 10.90%
• Fund Size: 66 Crore BDT
• Launch Date: August 2019

Target Audience

Investors seeking impact-based investment in apparel sector with growth potential.

ICL INCTL Shariah Fund

Type: Shariah-compliant Mutual Fund

Key Features

• 100% Shariah-compliant investments
• Follows Islamic investment principles
• Excludes non-halal industries (alcohol, gambling, pork, etc.)
• NAV Calculation: Last business day of each week
• NAV Formula: Total NAV = VA (Value of Assets) - LT (Total Liabilities); NAV per unit = Total NAV / No. of units outstanding
• Ethical and religious alignment
• Suitable for socially responsible investors

Current NAV Performance (as of January 24, 2026)

• NAV per Unit: BDT 10.52

Investment Objective

Provide Shariah-compliant investment opportunity with balanced approach between income generation and capital appreciation.

Target Audience

Investors seeking Islamic/shariah-compliant investment options.

Systematic Investment Plan (SIP) by Impress Capital Limited

What Is SIP?

A Systematic Investment Plan (SIP) is a very convenient and disciplined way of investing money in mutual funds. SIP allows an investor to invest a certain pre-determined amount at a regular interval (typically monthly).

SIP Philosophy

SYSTEMATIC INVESTMENT PLANNING = SMART INVESTMENT PLANNING

Key Benefits of SIP

Planned Approach

Helps inculcate the habit of saving and building wealth for the future.

Regular Investing

Invest pre-determined amount at regular intervals.

Discipline

Creates investment discipline and reduces timing risk.

Accessibility

Start with smaller amounts instead of lump sum.

Compounding Benefit

Regular investing maximizes compounding returns.

Flexibility

Choose amount and interval based on your convenience.

SIP Funds Available at Impress Capital Limited

Monthly SIP instalments are invested in mutual funds managed by Impress Capital Limited, as selected by investors:

• ICL Balanced Fund
• BCB ICL Growth Fund
• Esquire ICL Apparel Fund

Why Should You Invest in Mutual Funds of ICL?

Investing in mutual funds managed by expert, experienced, and professional Fund Manager Impress Capital Limited (ICL) provides the following benefits:

Benefit 1: Tax Benefits (Tax Savings and Tax Rebates)

• Enjoy substantially higher annual tax rebates compared to traditional investment options
• Tax rebate up to BDT 75,000 for debt fund investments
• Tax rebate up to BDT 500,000 for equity fund investments
• 15% of investment amount as tax rebate (subject to limits)
• Optimize tax efficiency and maximize overall returns

Benefit 2: Diversification of Portfolio (Investment in Different Sectors)

Advantages of Investment Across Multiple Sectors

• Diversification reduces single-sector risk
• Exposure to telecommunications, pharmaceuticals, financial services, energy, and more
• Balanced risk through portfolio spread
• Professional fund managers select diversified holdings

Benefit 3: Higher Risk-Adjusted Return

• ICL focuses on risk-adjusted returns
• Balance return generation with capital preservation across market cycles
• Expert fund management optimizes returns for given risk level
• Consistent performance during market volatility
• Better returns than traditional savings instruments

Benefit 4: Transparency

• NAV calculated on weekly basis
• NAV published on www.impresscapital.com
• Regular fund performance reports
• Clear investment prospectus
• BSEC-regulated with compliance audits
• Full disclosure of portfolio holdings

Benefit 5: Fund Withdrawal Benefit

• Open-ended funds allow redemption anytime
• No lock-in period for most ICL funds
• Liquidate investment fully or partially
• Sell units directly to ICL at prevailing NAV
• Quick access to your money
• No additional charge or penalty on early liquidation

Additional Benefits

Professional Fund Management

Expert team with years of experience.

Liquidity

Easy entry and exit from open-ended funds.

Affordability

Low minimum investment starting from BDT 1,000.

Convenience

Online investment and tracking available.

Regular Income

Most funds distribute dividends annually.

Capital Appreciation

Long-term wealth creation potential.

Regulatory Protection

BSEC regulation ensures investor protection.

ICL Mutual Fund Performance Data (2026)

Performance Snapshot

ICL Balanced Fund

• Current NAV: BDT 11.59 per unit (as of May 14, 2026)
• Weekly Change: 0.00%
• 1-Year Return: 5.70%
• 3-Year Return: 10.80%
• 5-Year Return: -0.40%
• Since Launch Return: 11.00%
• Fund Size: 174 Crore BDT
• Launch Date: September 2016

BCB ICL Growth Fund

• Current NAV: BDT 11.88 per unit (as of January 24, 2026)
• Weekly Change: 0.00%
• Investment Focus: Undervalued equity instruments with growth potential
• Fund Size: 250 Crore BDT initial
• Launch Date: April 2018

Esquire ICL Apparel Fund

• Current NAV: BDT 12.89 per unit (as of May 14, 2026)
• Weekly Change: 0.00%
• 1-Year Return: 14.00%
• 3-Year Return: 10.90%
• Fund Size: 66 Crore BDT
• Launch Date: August 2019
• Best Performer: Highest 1-year return among ICL funds

ICL INCTL Shariah Fund

• Current NAV: BDT 10.52 per unit (as of January 24, 2026)
• Investment Focus: Shariah-compliant securities
• 100% Islamic investment principles

Historical NAV Performance

ICL Balanced Fund NAV History

DateNAV per UnitJune 30, 2020BDT 7.78May 14, 2026BDT 11.59

Growth: 49% increase over nearly 6 years.

BCB ICL Growth Fund NAV History

DateNAV per UnitJune 30, 2020BDT 7.33January 24, 2026BDT 11.88

Growth: 62% increase over nearly 6 years.

How to Invest in Impress Capital Limited Mutual Funds

Step-by-Step Investment Process

Step 1: Choose Your Fund

Decide which ICL mutual fund matches your investment goals:

• For balanced growth with moderate risk: ICL Balanced Fund
• For equity growth potential: BCB ICL Growth Fund
• For apparel sector impact investing: Esquire ICL Apparel Fund
• For Islamic investing: ICL INCTL Shariah Fund
• For regular monthly investing: Choose SIP in any of the above funds

Step 2: Open Account

Visit Impress Capital Limited office at Evergreen Plaza (1st Floor), 260/B Tejgaon I/A, Dhaka 1208.

Complete account opening form and provide the required documents:

• NID (National Identity Card)
• BO (Beneficiary Owner) account details
• Bank account information
• Photograph

Submit the completed application.

Step 3: Choose Investment Amount

• Minimum investment for individuals: BDT 1,000 (100 units)
• Minimum investment for institutions: BDT 100,000 (10,000 units)
• SIP investors: No minimum (as per SIP plan)

Decide whether to invest through a lump sum investment or a monthly SIP.

Step 4: Submit Investment Application

• Fill mutual fund investment application
• Attach payment details
• Submit to ICL office or online portal
• Get application confirmation

Step 5: Make Payment

• Transfer investment amount to ICL mutual fund account
• Use bank transfer, cheque, or online payment
• Get payment receipt confirmation
• Ensure payment matches application amount

Step 6: Receive Unit Holdings

• Units allocated based on current NAV
• Receive unit certificate or electronic confirmation
• Track investment online at www.impresscapital.com
• NAV published weekly on website

Step 7: Monitor Performance

• Check NAV updates weekly
• Review fund performance reports
• Compare with benchmark indices
• Track total returns including dividends

Step 8: Redeem When Needed

• Submit redemption request to ICL
• Receive money at current NAV
• No lock-in period for open-ended funds
• Quick processing and payment

Required Documents for Investment

To invest in Impress Capital Limited mutual funds, you will need the following documents:

• National Identity Card (NID) copy
• BO Account number
• Bank account details
• Photograph
• Completed application form
• Payment proof

Investment Channels

Direct

Visit the ICL office in Dhaka.

Online

Register on www.impresscapital.com.

Through Brokers

• BRAC EPL Stock Brokerage Limited
• City Brokerage Limited
• Commerce Bank Securities and Investment Limited

ICL Mutual Funds vs Other Investment Options

Comparison with Bank DPS

FeatureICL Mutual FundsBank DPSReturns9-14%8-9%Tax RebateUp to 75,000-500,000 BDT18,000 BDTLiquidityRedeem anytimeLock-in periodProfessional ManagementYesNoDiversificationHighNone

Comparison with Direct Stock Investing

FeatureICL Mutual FundsDirect Stock InvestingRiskDiversified lowerHighManagementProfessionalSelf-managedMinimum InvestmentBDT 1,000HigherExpertise RequiredMinimalSignificantTime RequiredLowHigh

Comparison with Sanchayapatra

FeatureICL Mutual FundsSanchayapatraSafetyModerate-HighHighestReturns9-14%10-11%LiquidityHighLowTax RebateUp to 75,000 BDTUp to 75,000 BDTProfessional ManagementYesNo

Key Advantages of ICL Mutual Funds

Higher Returns Than Traditional Savings

• 9-14% potential returns compared to 8-9% from traditional savings instruments

Much Better Tax Benefits

• Tax rebate benefits up to 500,000 BDT compared to 18,000 BDT in many traditional savings options

Superior Liquidity

• Redeem investments anytime without long lock-in periods

Professional Fund Management

• Managed by experienced investment professionals

Diversification Reduces Risk

• Investments spread across multiple sectors and securities

Low Minimum Investment

• Accessible with investments starting from BDT 1,000

Transparency

• Regular NAV updates ensure transparency

Regulatory Protection

• BSEC regulation protects investors

Regular Income

• Dividend distributions provide income

Long-Term Wealth Creation

• Designed to support long-term capital appreciation and wealth creation

Who Should Invest in ICL Mutual Funds?

Ideal For

Conservative Investors

• ICL Balanced Fund for moderate risk
• Steady returns with capital preservation
• Lower risk than direct stocks

Growth-Oriented Investors

• BCB ICL Growth Fund for equity exposure
• Long-term capital appreciation
• Higher return potential

Risk-Averse Investors

• ICL Balanced Fund for balanced approach
• Professional risk management
• Diversified portfolio

Retirees

• Regular income through dividends
• Lower volatility than stocks
• Capital preservation focus

Young Professionals

• Start with SIP monthly investing
• Build wealth for future
• Compounding benefits

Institutional Investors

• BDT 100,000 minimum for institutions
• Large corpus management
• Professional portfolio handling

Non-Resident Bangladeshis

• NRB eligible for BCB ICL Growth Fund
• Invest from abroad
• Participate in Bangladesh market

Shariah-Conscious Investors

• ICL INCTL Shariah Fund
• 100% Islamic
• Ethical investment principles
• Religious alignment

Impact Investors

• Esquire ICL Apparel Fund for sector impact
• Support apparel industry growth
• Socially responsible investing

Tax-Savvy Investors

• Maximum tax rebate optimization
• Up to 500,000 BDT for equity funds
• Reduce tax liability legally

ICL Mutual Fund Investment Strategies

Strategy 1: SIP Monthly Investing

Approach

• Invest fixed amount monthly via SIP
• Choose ICL Balanced Fund, BCB ICL Growth Fund, or Esquire ICL Apparel Fund
• Start with BDT 1,000-5,000 monthly
• Continue for 5+ years
• Benefit from compounding and averaging

Expected Return

9-12% annually

Risk Level

Moderate

Best For

Young professionals, regular income earners.

Strategy 2: Balanced Portfolio

Allocation

• 60% ICL Balanced Fund
• 30% BCB ICL Growth Fund
• 10% ICL INCTL Shariah Fund

Expected Return

10-12% annually

Risk Level

Moderate

Best For

Moderate-risk investors seeking balance.

Strategy 3: Growth Focus

Allocation

• 70% BCB ICL Growth Fund
• 20% Esquire ICL Apparel Fund
• 10% ICL Balanced Fund

Expected Return

12-14% annually

Risk Level

Moderate-High

Best For

Growth-oriented, long-term investors.

Strategy 4: Conservative Income

Allocation

• 80% ICL Balanced Fund
• 20% ICL INCTL Shariah Fund

Expected Return

8-10% annually

Risk Level

Low-Moderate

Best For

Retirees, conservative investors.

Strategy 5: Shariah-Compliant Portfolio

Allocation

• 100% ICL INCTL Shariah Fund

Or

• Mix with other Shariah funds

Expected Return

7-9% annually

Risk Level

Low-Moderate

Best For

Islamic investing focused investors.

Important Facts About ICL Mutual Funds

Fact 1: Fund Type

All ICL mutual funds are open-ended, providing maximum liquidity with no lock-in period.

Fact 2: NAV Calculation

NAV is calculated on a weekly basis (last business day of each week) and published on www.impresscapital.com.

Fact 3: Minimum Investment

Individuals can start with BDT 1,000 (100 units), making ICL funds accessible to retail investors.

Fact 4: Tax Benefits

Equity mutual funds qualify for tax rebate up to BDT 500,000, while debt funds qualify up to BDT 75,000.

Fact 5: Dividend Distribution

Most ICL funds distribute at least 50% of net profit as annual dividend.

Fact 6: Professional Management

Expert fund managers with years of experience manage all ICL mutual funds.

Fact 7: Regulatory Oversight

All funds are BSEC-regulated with regular compliance audits and investor protection measures.

Fact 8: Diversification

ICL funds invest across multiple sectors, reducing concentration risk.

Fact 9: Transparency

Full portfolio transparency through regular disclosures, NAV publications, and fund performance reporting.