Three open-end mutual funds managed by VIPB Asset Management Company have declared cash dividends ranging 10 per cent to 20 per cent for the year 2021, officials said.

Of the funds, VIPB Accelerated Income Unit Fund declared 20 per cent cash dividend while VIPB Growth Fund and VIPB Balanced Fund declared 10 per cent cash dividend each for the year ended on 31st December, 2021.

The trustees of the funds made the declarations regarding cash dividend this week, according to a release.

The funds generated total return of 18.2 per cent, 21.0 per cent and 20.7 per cent respectively during the year.

Total return refers to an increase in net asset value and dividends.

All three funds are sponsored and managed by VIPB Asset Management Company.

Sandhani Life Insurance Company is the trustee and BRAC Bank is the custodian of VIPB Growth Fund and VIPB Balanced Fund.

Investment Corporation of Bangladesh (ICB) is the trustee and custodian of VIPB Accelerated Income Unit Fund.

One of the closed-end mutual funds named Southeast Bank First Mutual Fund, managed by VIPB, has been converted into an open-ended fund named VIPB SEBL 1st Unit Fund recently.

The other closed-end fund managed by VIPB, known as NLI First Mutual Fund, will complete its 10-year tenure next month.

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