Esquire ICL Apparel 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

Esquire ICL Apparel Fund returned 8.30% 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 Aug 2019, with dividends reinvested by default or taken as cash.

৳12.92NAV per unit
৳6 crFund size
7.2 yrsSince Aug 2019
+8.64%Per year, max (7.2 yrs)
Start 100Now 180

Total-return path since Aug 2019, dividends reinvested.

Index, not taka.

See the numbers behind this chart
Month-by-month total-return index for Esquire ICL Apparel Fund, dividends reinvested
MonthTotal-return index
Aug 2019100.00
Sep 2019100.00
Oct 201996.10
Nov 201996.40
Dec 201992.60
Jan 202092.40
Feb 202089.90
Mar 202084.30
Apr 202084.30
May 202084.30
Jun 202084.60
Jul 202087.90
Aug 202099.60
Sep 2020101.50
Oct 2020103.40
Nov 2020104.10
Dec 2020116.20
Jan 2021129.90
Feb 2021125.00
Mar 2021124.10
Apr 2021126.20
May 2021134.40
Jun 2021134.60
Jul 2021144.40
Aug 2021147.50
Sep 2021155.30
Oct 2021148.40
Nov 2021149.30
Dec 2021151.40
Jan 2022153.30
Feb 2022151.50
Mar 2022148.50
Apr 2022148.30
May 2022139.90
Jun 2022141.30
Jul 2022150.40
Aug 2022138.70
Sep 2022138.50
Oct 2022138.50
Nov 2022139.90
Dec 2022140.50
Jan 2023140.40
Feb 2023140.40
Mar 2023140.80
Apr 2023142.20
May 2023142.00
Jun 2023142.10
Jul 2023141.60
Aug 2023142.80
Sep 2023141.60
Oct 2023141.70
Nov 2023141.50
Dec 2023142.00
Jan 2024143.80
Feb 2024141.90
Mar 2024132.00
Apr 2024129.00
May 2024123.60
Jun 2024127.70
Jul 2024127.70
Aug 2024157.60
Sep 2024152.50
Oct 2024144.20
Nov 2024146.30
Dec 2024145.40
Jan 2025143.40
Feb 2025146.40
Mar 2025148.40
Apr 2025145.50
May 2025142.60
Jun 2025148.80
Jul 2025165.10
Aug 2025172.10
Sep 2025169.30
Oct 2025164.50
Nov 2025161.60
Dec 2025159.00
Jan 2026168.60
Feb 2026180.60
Mar 2026164.60
Apr 2026169.50
May 2026172.00
Jun 2026179.20
Jul 2026192.10
Aug 2026178.40
Sep 2026179.90

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+10.44%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 +74.70% over about 7.2 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 +74.70% over 7.2 yrs · since launch · to 3 Sep 2026
ReturnKoto? METHOD+8.64%/yr · dividends reinvested · max (7.2 yrs) · dated pay dates

A ৳1,00,000 investment held over max (7.2 yrs) would be worth about ৳1,79,890 with dividends reinvested, or ৳1,74,350 taking every dividend as cash. Reinvesting compounds, so it ends higher; the gap (about ৳5,540) 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+9.28%+19.41%+12.85%
Year to date+13.11%+17.85%+11.22%
1 year+6.26%+6.26%+10.61%
2 years+17.95%+8.61%+12.63%
3 years+27.01%+8.30%+11.87%
5 years+15.80%+2.98%+7.79%
Max (7.2 yrs)+79.89%+8.64%+8.53%

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+6.26%+7.70%+64.28%-12.96%74
3 years+8.31%+6.60%+19.04%-4.01%50

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:

8.5%Downside deviation
-14%Worst drop
92%Positive 12-mo windows
19.0%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 Esquire ICL Apparel Fund, dividends reinvested
MonthValue of ৳1,000
Aug 2019৳1,000
Sep 2019৳1,000
Oct 2019৳961
Nov 2019৳964
Dec 2019৳926
Jan 2020৳924
Feb 2020৳899
Mar 2020৳843
Apr 2020৳843
May 2020৳843
Jun 2020৳846
Jul 2020৳879
Aug 2020৳996
Sep 2020৳1,015
Oct 2020৳1,034
Nov 2020৳1,041
Dec 2020৳1,162
Jan 2021৳1,299
Feb 2021৳1,250
Mar 2021৳1,241
Apr 2021৳1,262
May 2021৳1,344
Jun 2021৳1,346
Jul 2021৳1,444
Aug 2021৳1,475
Sep 2021৳1,553
Oct 2021৳1,484
Nov 2021৳1,493
Dec 2021৳1,514
Jan 2022৳1,533
Feb 2022৳1,515
Mar 2022৳1,485
Apr 2022৳1,483
May 2022৳1,399
Jun 2022৳1,413
Jul 2022৳1,504
Aug 2022৳1,387
Sep 2022৳1,385
Oct 2022৳1,385
Nov 2022৳1,399
Dec 2022৳1,405
Jan 2023৳1,404
Feb 2023৳1,404
Mar 2023৳1,408
Apr 2023৳1,422
May 2023৳1,420
Jun 2023৳1,421
Jul 2023৳1,416
Aug 2023৳1,428
Sep 2023৳1,416
Oct 2023৳1,417
Nov 2023৳1,415
Dec 2023৳1,420
Jan 2024৳1,438
Feb 2024৳1,419
Mar 2024৳1,320
Apr 2024৳1,290
May 2024৳1,236
Jun 2024৳1,277
Jul 2024৳1,277
Aug 2024৳1,576
Sep 2024৳1,525
Oct 2024৳1,442
Nov 2024৳1,463
Dec 2024৳1,454
Jan 2025৳1,434
Feb 2025৳1,464
Mar 2025৳1,484
Apr 2025৳1,455
May 2025৳1,426
Jun 2025৳1,488
Jul 2025৳1,651
Aug 2025৳1,721
Sep 2025৳1,693
Oct 2025৳1,645
Nov 2025৳1,616
Dec 2025৳1,590
Jan 2026৳1,686
Feb 2026৳1,806
Mar 2026৳1,646
Apr 2026৳1,695
May 2026৳1,720
Jun 2026৳1,792
Jul 2026৳1,921
Aug 2026৳1,784
Sep 2026৳1,799
৳1,000 · Aug 2019৳1,799 · 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 500 (50 units)
LiquidityOpen-end, redeemable weekly at NAV
Asset managerImpress Capital Limited (ICL)
SponsorEsquire Knit Composite
TrusteeInvestment Corporation of Bangladesh
CustodianBRAC Bank
Face valueBDT 10 per unit

What Esquire ICL Apparel Fund holds

As of 30 Jun 2026

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

Asset mix
Listed equity 74.75%Government securities (T-bonds) 18.03%Corporate bond 1.37%Cash at bank 5.85%
Sector allocation
Bank27.37%
Pharmaceuticals & Chemicals22.76%
Engineering6.93%
Telecommunication4.90%
Mutual Funds3.95%
Miscellaneous3.38%
Cement3.06%
Food & Allied2.41%
Top holdings
BRAC Bank10.34%
avg cost ৳55.92 · stmt mkt ৳63.00
Square Pharmaceuticals9.57%
avg cost ৳223.00 · stmt mkt ৳233.33
Marico Bangladesh9.44%
BSRM Steels6.93%
avg cost ৳72.00 · stmt mkt ৳84.50
City Bank5.42%
avg cost ৳25.25 · stmt mkt ৳33.00
Jamuna Bank4.76%
avg cost ৳21.47 · stmt mkt ৳23.20
Vanguard AML Rupali Bank Balanced Fund3.95%
avg cost ৳6.34 · stmt mkt ৳7.61
Prime Bank3.91%
avg cost ৳23.50 · stmt mkt ৳28.60
Renata3.75%
avg cost ৳330.00 · stmt mkt ৳274.00
Bangladesh Shipping Corporation3.38%
avg cost ৳100.50 · stmt mkt ৳123.50
Grameenphone3.20%
avg cost ৳278.00 · stmt mkt ৳234.00
LafargeHolcim Bangladesh3.06%
avg cost ৳52.00 · stmt mkt ৳56.00
British American Tobacco Bangladesh2.41%
avg cost ৳223.00 · stmt mkt ৳176.00
Robi Axiata1.70%
avg cost ৳25.75 · stmt mkt ৳31.00
Eastern Bank1.56%
avg cost ৳20.20 · stmt mkt ৳22.80
Pubali Bank1.38%
avg cost ৳23.00 · stmt mkt ৳33.67

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 41.70% of the fund.

What changed in the latest statement

31 Mar 2026 → 30 Jun 2026before now

+ Vanguard AML Rupali Bank Balanced Fund · new, 3.95%+ LafargeHolcim Bangladesh · new, 3.06%+ British American Tobacco Bangladesh · new, 2.41%+ Robi Axiata · new, 1.70%+ Eastern Bank · new, 1.56%+ Pubali Bank · new, 1.38%
Prime Bank8.55% → 3.91%
BSRM Steels3.51% → 6.93%
BRAC Bank11.74% → 10.34%

Asset mix: Government securities (T-bonds) 20.65% → 18.03%; Cash at bank 2.50% → 5.85%; Receivables & prepayments exited (was 0.88%); Preliminary & issue expenses exited (was 0.29%).

Its 5 largest holdings went from 43.56% to 41.70% 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.

Apparel-themed by mandate (sponsor: Esquire Knit Composite), but at 30 Jun 2026 the fund held no textile or apparel stocks. Listed equity includes the closed-end Vanguard AML Rupali Bank Balanced Fund. T-bonds held at fair value; the Tk 10 lakh BRAC Bank subordinated bond is carried at cost. Share counts for Marico print as 0.00 million on the statement, so avg-cost economics are omitted for that row only.

Side by side with another fund

Questions about Esquire ICL Apparel Fund

What kind of fund is Esquire ICL Apparel Fund?
Esquire ICL Apparel 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 Esquire ICL Apparel Fund?
Over roughly 7.2 years to 3 Sep 2026, Esquire ICL Apparel Fund returned about +8.64% 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 Esquire ICL Apparel Fund?
Esquire ICL Apparel 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 Esquire ICL Apparel Fund have an exit load?
Tk 0.10 per unit discount from NAV on surrender.

What is the minimum investment for Esquire ICL Apparel Fund?
Esquire ICL Apparel Fund has a one-time minimum of BDT 500 (50 units).

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

Compare Esquire ICL Apparel 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.

3 of 57th 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 (10th of 14).

Stars capped at 3: over this window its return did not beat both of its yardsticks, the 91-day T-bill and (for equity funds) the DSEX index.

Return / year (3 yr)
+10.70%
Downside deviation
8.5%
Worst drop
-14%
Consistency
92%
Versus the market (DSEX)

Beta 0.80 · historically moved about 0.80% for each 1% move in the DSEX market index. DSEX explains roughly 61% of its month-to-month swings.

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