BCB ICL Growth Fund

Confirmed with Impress Capital Limited (ICL) through official channels and shared records. ReturnKoto? and the AMC share an understanding of the figures on this page.
Growth✓ AMC-Verified+ dividends

BCB ICL Growth Fund returned 9.71% a year over the last 3 years, with cash dividends reinvested, based on NAV history through 2 Sep 2026.

Open-end growth mutual fund in Bangladesh, managed by Impress Capital Limited (ICL). Tracked since Apr 2018, with dividends reinvested by default or taken as cash.

৳12.06NAV per unit
৳19 crFund size
8.5 yrsSince Apr 2018
+5.76%Per year, max (8.5 yrs)
Start 100Now 160

Total-return path since Apr 2018, dividends reinvested.

Index, not taka.

See the numbers behind this chart
Month-by-month total-return index for BCB ICL Growth Fund, dividends reinvested
MonthTotal-return index
Apr 2018100.00
May 201897.80
Jun 201898.50
Jul 2018100.30
Aug 2018103.80
Sep 2018104.90
Oct 2018103.50
Nov 2018101.20
Dec 2018100.60
Jan 2019104.00
Feb 2019102.60
Mar 201999.80
Apr 201997.20
May 201999.50
Jun 2019101.10
Jul 201996.20
Aug 201994.50
Sep 201993.40
Oct 201987.70
Nov 201987.30
Dec 201980.80
Jan 202081.70
Feb 202080.60
Mar 202072.20
Apr 202072.20
May 202072.20
Jun 202072.40
Jul 202079.50
Aug 202093.50
Sep 202094.90
Oct 202094.50
Nov 202095.10
Dec 2020103.80
Jan 2021116.00
Feb 2021110.00
Mar 2021109.70
Apr 2021111.10
May 2021118.10
Jun 2021117.10
Jul 2021124.00
Aug 2021126.90
Sep 2021134.20
Oct 2021128.20
Nov 2021129.00
Dec 2021130.60
Jan 2022132.50
Feb 2022130.80
Mar 2022127.30
Apr 2022127.20
May 2022119.70
Jun 2022120.80
Jul 2022127.70
Aug 2022118.70
Sep 2022118.50
Oct 2022118.60
Nov 2022119.80
Dec 2022120.20
Jan 2023120.10
Feb 2023119.90
Mar 2023120.50
Apr 2023121.40
May 2023121.40
Jun 2023121.30
Jul 2023121.10
Aug 2023122.00
Sep 2023121.30
Oct 2023121.50
Nov 2023121.30
Dec 2023121.70
Jan 2024123.30
Feb 2024121.70
Mar 2024114.10
Apr 2024111.30
May 2024108.00
Jun 2024112.80
Jul 2024112.80
Aug 2024136.50
Sep 2024130.70
Oct 2024123.10
Nov 2024124.70
Dec 2024124.20
Jan 2025123.20
Feb 2025125.60
Mar 2025127.10
Apr 2025125.00
May 2025123.20
Jun 2025128.60
Jul 2025141.00
Aug 2025150.50
Sep 2025148.60
Oct 2025144.30
Nov 2025142.00
Dec 2025139.50
Jan 2026148.70
Feb 2026158.20
Mar 2026145.50
Apr 2026149.60
May 2026151.80
Jun 2026158.50
Jul 2026170.80
Aug 2026159.20
Sep 2026160.20

Latest NAV date: 3 Sep 2026.Source: Impress Capital Limited (ICL)'s website.Figures as of 2 Sep 2026.

Two sides of the coin

Same fund. Two honest answers.

Both are right; they answer different questions. On the left, ICL’s holding-period method: NAV change versus the ৳10 face value, plus every cash dividend stacked as a percentage of face (not compounded), shown here as their annual average. On the right, every dividend is reinvested to buy more units, the total return of the fund itself.

ICL method+6.67%ICL’s published holding-period method: take the latest market NAV, subtract the ৳10 face value, divide by face, then add every cash dividend as a percentage of face (not reinvested). Holding period return here is +56.10% over about 8.4 years. The large figure is that total divided by years (ICL’s “Annual Average Return”), rebuilt from ICL’s own NAV and dividend record as of 3 Sep 2026./yr · ICL annual average · HPR +56.10% over 8.4 yrs · since launch · to 3 Sep 2026
ReturnKoto? METHOD+5.76%/yr · dividends reinvested · max (8.5 yrs) · dated pay dates

A ৳1,00,000 investment held over max (8.5 yrs) would be worth about ৳1,60,160 with dividends reinvested, or ৳1,55,320 taking every dividend as cash. Reinvesting compounds, so it ends higher; the gap (about ৳4,840) is the cost of not reinvesting.

Why can both numbers be right? Seeing two different percentages for the same fund is normal, not a mistake. ICL’s figure adds the NAV gain versus face to the sum of cash dividends as face percentages, then divides by years (their Holding Period Return and Annual Average on impresscapital.com/performance). ReturnKoto? METHOD compounds those same dividends back into units. Both use ICL’s published market NAV and dividend record; the difference is compounding versus simple addition, plus the exact start date. The Taken as cash toggle elsewhere on ReturnKoto? is our own time-weighted cash path for whatever period you pick; it is not the same rate as ICL’s additive since-launch holding-period figure on the left. ICL has reviewed the fund data on this page, and neither figure is an error.

Read the full explanation · Methodology

Historical returns

Total return reinvests every dividend. “Per year” is the annualized compound rate. The last column is the return on a fixed amount invested every month (SIP).

Return period Total return Per year Monthly SIP /yr
6 months+10.06%+21.13%+15.17%
Year to date+14.82%+20.23%+13.49%
1 year+7.78%+7.78%+12.64%
2 years+22.51%+10.68%+15.10%
3 years+32.04%+9.71%+13.63%
5 years+19.36%+3.60%+9.00%
Max (8.5 yrs)+60.16%+5.76%+8.09%

Bars in each column are relative to the largest figure in that column, not a 0 to 100% scale.

Figures as of 3 Sep 2026 Dividends reinvested at the fund manager’s published payment dates (not the October convention).

Rolling returns & path risk

A single look-back can flatter or punish a start date. These figures walk the whole history.

Rolling window Latest Median Best Worst Windows
1 year+7.81%+2.78%+63.57%-28.39%90
3 years+9.72%+7.39%+18.91%-3.11%66

Each window is annualized total return (dividends reinvested). Latest is the most recent closed window; median / best / worst summarize every overlapping window of that length. Tap ? on a column header for a short tip.

Path risk over the same fixed 3-year window as the rating:

8.0%Downside deviation
-12%Worst drop
92%Positive 12-mo windows
17.8%Volatility (ann.)

Downside deviation only counts losing months. Worst drop is the deepest peak-to-trough fall inside the window. These are measured facts from the NAV series; the star composite that uses them stays experimental.

Calculate your return

Just this fund. Set an amount, pick one-time or monthly, and choose a period.

৳
Dividends
See the numbers behind this chart
Month-by-month value of a ৳1,000 lump sum in BCB ICL Growth Fund, dividends reinvested
MonthValue of ৳1,000
Apr 2018৳1,000
May 2018৳978
Jun 2018৳985
Jul 2018৳1,003
Aug 2018৳1,038
Sep 2018৳1,049
Oct 2018৳1,035
Nov 2018৳1,012
Dec 2018৳1,006
Jan 2019৳1,040
Feb 2019৳1,026
Mar 2019৳998
Apr 2019৳972
May 2019৳995
Jun 2019৳1,011
Jul 2019৳962
Aug 2019৳945
Sep 2019৳934
Oct 2019৳877
Nov 2019৳873
Dec 2019৳808
Jan 2020৳817
Feb 2020৳806
Mar 2020৳722
Apr 2020৳722
May 2020৳722
Jun 2020৳724
Jul 2020৳795
Aug 2020৳935
Sep 2020৳949
Oct 2020৳945
Nov 2020৳951
Dec 2020৳1,038
Jan 2021৳1,160
Feb 2021৳1,100
Mar 2021৳1,097
Apr 2021৳1,111
May 2021৳1,181
Jun 2021৳1,171
Jul 2021৳1,240
Aug 2021৳1,269
Sep 2021৳1,342
Oct 2021৳1,282
Nov 2021৳1,290
Dec 2021৳1,306
Jan 2022৳1,325
Feb 2022৳1,308
Mar 2022৳1,273
Apr 2022৳1,272
May 2022৳1,197
Jun 2022৳1,208
Jul 2022৳1,277
Aug 2022৳1,187
Sep 2022৳1,185
Oct 2022৳1,186
Nov 2022৳1,198
Dec 2022৳1,202
Jan 2023৳1,201
Feb 2023৳1,199
Mar 2023৳1,205
Apr 2023৳1,214
May 2023৳1,214
Jun 2023৳1,213
Jul 2023৳1,211
Aug 2023৳1,220
Sep 2023৳1,213
Oct 2023৳1,215
Nov 2023৳1,213
Dec 2023৳1,217
Jan 2024৳1,233
Feb 2024৳1,217
Mar 2024৳1,141
Apr 2024৳1,113
May 2024৳1,080
Jun 2024৳1,128
Jul 2024৳1,128
Aug 2024৳1,365
Sep 2024৳1,307
Oct 2024৳1,231
Nov 2024৳1,247
Dec 2024৳1,242
Jan 2025৳1,232
Feb 2025৳1,256
Mar 2025৳1,271
Apr 2025৳1,250
May 2025৳1,232
Jun 2025৳1,286
Jul 2025৳1,410
Aug 2025৳1,505
Sep 2025৳1,486
Oct 2025৳1,443
Nov 2025৳1,420
Dec 2025৳1,395
Jan 2026৳1,487
Feb 2026৳1,582
Mar 2026৳1,455
Apr 2026৳1,496
May 2026৳1,518
Jun 2026৳1,585
Jul 2026৳1,708
Aug 2026৳1,592
Sep 2026৳1,602
৳1,000 · Apr 2018৳1,602 · 3 Sep 2026

Total-return NAV rebased to your amount. Dividends are reinvested by default; switch to taken as cash above.

Fund details

Management fee2.50% down to 1.00% per year (tiered by fund size)
Early-exit feeTk 0.10 per unit discount from NAV on surrender
Minimum investmentBDT 1,000 (100 units)
LiquidityOpen-end, redeemable weekly at NAV
Asset managerImpress Capital Limited (ICL)
SponsorBangladesh Commerce Bank
TrusteeInvestment Corporation of Bangladesh
CustodianBRAC Bank
Face valueBDT 10 per unit

What BCB ICL Growth Fund holds

As of 30 Jun 2026

From the fund’s quarterly portfolio disclosure. Percentages by market value.

Asset mix
Listed equity 74.91%Government securities (T-bonds) 21.99%Corporate bond 0.93%Cash at bank 2.17%
Sector allocation
Bank30.58%
Pharmaceuticals & Chemicals23.62%
Miscellaneous5.26%
Engineering4.61%
Telecommunication3.63%
Cement3.13%
Mutual Funds2.31%
Food & Allied1.74%
Top holdings
BRAC Bank10.27%
avg cost ৳59.21 · stmt mkt ৳64.76
Square Pharmaceuticals9.80%
avg cost ৳222.89 · stmt mkt ৳233.44
Marico Bangladesh9.57%
avg cost ৳2,001.00 · stmt mkt ৳2,053.00
Prime Bank8.23%
avg cost ৳26.20 · stmt mkt ৳29.90
Jamuna Bank5.09%
avg cost ৳22.00 · stmt mkt ৳23.74
Renata4.25%
avg cost ৳559.50 · stmt mkt ৳456.00
BSRM Steels4.24%
avg cost ৳69.18 · stmt mkt ৳82.73
Berger Paints Bangladesh3.69%
avg cost ৳789.00 · stmt mkt ৳792.00
City Bank3.21%
avg cost ৳19.18 · stmt mkt ৳31.32
Pubali Bank3.15%
avg cost ৳23.56 · stmt mkt ৳37.50
LafargeHolcim Bangladesh3.13%
avg cost ৳51.75 · stmt mkt ৳56.00
Grameenphone3.03%
avg cost ৳262.33 · stmt mkt ৳216.33
Vanguard AML Rupali Bank Balanced Fund2.31%
avg cost ৳6.32 · stmt mkt ৳7.63
British American Tobacco Bangladesh1.74%
avg cost ৳239.50 · stmt mkt ৳186.50
Bangladesh Shipping Corporation1.57%
avg cost ৳91.00 · stmt mkt ৳112.33
Uttara Bank0.63%
avg cost ৳17.67 · stmt mkt ৳22.67
Robi Axiata0.61%
avg cost ৳26.25 · stmt mkt ৳32.50
Singer Bangladesh0.36%
avg cost ৳105.00 · stmt mkt ৳78.00

Each bar is sized against the largest name in this list, so you can compare them to each other. The percentage is still that name’s share of the whole fund.

Its 5 largest holdings are 42.96% of the fund.

What changed in the latest statement

31 Mar 2026 → 30 Jun 2026before now

+ BSRM Steels · new, 4.24%+ Berger Paints Bangladesh · new, 3.69%+ Grameenphone · new, 3.03%+ Vanguard AML Rupali Bank Balanced Fund · new, 2.31%+ British American Tobacco Bangladesh · new, 1.74%+ Bangladesh Shipping Corporation · new, 1.57%+ Uttara Bank · new, 0.63%+ Robi Axiata · new, 0.61%+ Singer Bangladesh · new, 0.36%− IDLC Finance · no longer held
BRAC Bank11.60% → 10.27%

Asset mix: Listed equity 71.83% → 74.91%; Government securities (T-bonds) 24.00% → 21.99%; Receivables & prepayments exited (was 0.71%).

Its 5 largest holdings went from 43.43% to 42.96% of the fund.

Position sizes shift with both trading and market prices; both snapshots come from the fund manager’s own statements.

✓ Verified from ICL quarterly portfolio statement (30 Jun 2026). Holdings are disclosed quarterly, so they can lag the latest daily NAV.

T-bonds held at fair value; the Tk 20 lakh BRAC Bank subordinated bond is carried at cost in the statement. Listed equity includes the closed-end Vanguard AML Rupali Bank Balanced Fund.

Side by side with another fund

Questions about BCB ICL Growth Fund

What kind of fund is BCB ICL Growth Fund?
BCB ICL Growth Fund is an open-end growth mutual fund in Bangladesh, managed by Impress Capital Limited (ICL). You buy and redeem units at its published net asset value (NAV), and it has no fixed maturity.

What is the historical return of BCB ICL Growth Fund?
Over roughly 8.5 years to 3 Sep 2026, BCB ICL Growth Fund returned about +5.76% per year, as a total return with dividends reinvested. The figure changes with the period you choose, and past performance does not guarantee future results.

What are the fees for BCB ICL Growth Fund?
BCB ICL Growth Fund charges a management fee of 2.50% down to 1.00% per year (tiered by fund size). Its published NAV, and so every return shown, is already net of this fee.

Does BCB ICL Growth Fund have an exit load?
Tk 0.10 per unit discount from NAV on surrender.

What is the minimum investment for BCB ICL Growth Fund?
BCB ICL Growth Fund has a one-time minimum of BDT 1,000 (100 units).

Is BCB ICL Growth Fund Shariah-compliant?
No. BCB ICL Growth Fund is a conventional open-end fund, not Shariah-certified. ReturnKoto? has a one-tap filter to show only Shariah funds.

Compare BCB ICL Growth Fund with other funds →
ExperimentalReturnKoto? ratingstill being calibrated

Rules-based rating for each fund. Experimental; treat as one input for your own research. Every sub-score is on the ratings page.

4 of 54th of 16 growth funds

A rules-based score over the same fixed 3-year window every fund is measured on: return against its benchmark, downside deviation, worst drop and consistency, on a scale set for growth funds.

5-year rating: 3 of 5 over the same fixed 5-year window (8th of 14).

Return / year (3 yr)
+12.10%
Downside deviation
8.0%
Worst drop
-12%
Consistency
92%
Versus the market (DSEX)

Beta 0.86 · historically moved about 0.86% for each 1% move in the DSEX market index. DSEX explains roughly 66% of its month-to-month swings.

✓ Rules-based, measured from the fund’s own NAV history. How the rating will work.