ICL INCTL Shariah Fund
Open-end balanced mutual fund in Bangladesh, Shariah-compliant, managed by Impress Capital Limited (ICL). Tracked since Dec 2023, with dividends reinvested by default or taken as cash.
৳1,00,000 invested in Dec 2023 is ৳1,07,570 today.
ICL INCTL Shariah Fund returned 2.69% a year since Dec 2023 (2.8 years) as a one-time investment, with cash dividends reinvested, based on NAV history through 27 Sep 2026.
- Worst fall
- -7.5%
- Full history, 2.8 yrs
- Whole record
- +2.69%/yr
- 2.8 yrs · Since Dec 2023
- NAV per unit
- ৳10.06
- 27 Sep 2026
- Fund size
- ৳8 cr
- Net assets
Total-return path since Dec 2023, dividends reinvested.
See the numbers behind this chart
| Month | Total-return index |
|---|---|
| Dec 2023 | 100.00 |
| Jan 2024 | 101.90 |
| Feb 2024 | 101.30 |
| Mar 2024 | 99.40 |
| Apr 2024 | 98.50 |
| May 2024 | 94.70 |
| Jun 2024 | 99.00 |
| Jul 2024 | 99.00 |
| Aug 2024 | 102.10 |
| Sep 2024 | 99.10 |
| Oct 2024 | 97.00 |
| Nov 2024 | 97.00 |
| Dec 2024 | 97.00 |
| Jan 2025 | 97.00 |
| Feb 2025 | 97.00 |
| Mar 2025 | 97.00 |
| Apr 2025 | 97.00 |
| May 2025 | 97.00 |
| Jun 2025 | 97.00 |
| Jul 2025 | 97.00 |
| Aug 2025 | 97.00 |
| Sep 2025 | 97.00 |
| Oct 2025 | 97.00 |
| Nov 2025 | 97.00 |
| Dec 2025 | 97.00 |
| Jan 2026 | 105.50 |
| Feb 2026 | 107.00 |
| Mar 2026 | 103.90 |
| Apr 2026 | 104.20 |
| May 2026 | 105.30 |
| Jun 2026 | 108.40 |
| Jul 2026 | 116.30 |
| Aug 2026 | 108.10 |
| Sep 2026 | 107.60 |
Where these numbers come from
- PricesNAV from Impress Capital Limited (ICL)'s website, checked four times a day. Latest print 27 Sep 2026.
- Dividends1 cash dividend on record, dated to the fund manager’s own payment dates. See the record
- Fund manager reviewAMC-Verified. Confirmed with Impress Capital Limited (ICL) through official channels and shared records.
Figures as of 27 Sep 2026. How every figure is built
Same fund. Two honest answers.
Both are right; they answer different questions. ICL method is 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. ReturnKoto? METHOD reinvests every dividend to buy more units: the total return of the fund itself.
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 in the ICL method card. ICL has reviewed the fund data on this page, and neither figure is an error.
Among 11 balanced funds
4th of 11 by return over the last year, one-time with dividends reinvested.
Return per year
See all 11 balanced funds
| # | Fund | Per year |
|---|---|---|
| 1 | Ekush First Unit Fund (EFUF) | +13.99% |
| 2 | IDLC Balanced Fund (IBF) | +13.82% |
| 3 | LB Gratuity Opportunities Fund (LBGOF) | +12.29% |
| 4 | ICL INCTL Shariah Fund Shariah | +10.88% |
| 5 | LB Gratuity Wealth Builder Fund (LBGWBF) | +10.65% |
| 6 | LankaBangla 1st Balanced Unit Fund (LB1stBUF) | +7.05% |
| 7 | VIPB Balanced Fund | +6.20% |
| 8 | ICL Balanced Fund | +5.47% |
| 9 | EDGE Al-Amin Shariah Consumer Fund (EDGEALAMIN) Shariah | +5.00% |
| 10 | LankaBangla Al-Arafah Shariah Unit Fund (LBASUF) Shariah | +4.01% |
| 11 | UCB AML First Mutual Fund | +0.50% |
Return: one-time, dividends reinvested, over the last year to each fund’s latest NAV (24 Sep 2026 to 27 Sep 2026). Past returns do not predict future ones.
Historical returns
Dividends reinvested throughout. One-time is a single amount put in at the start of the period; Monthly SIP puts the same amount in every month. Periods under 1 year show the total change, not a yearly rate.
Table is in AMC-aligned mode for this fund.
| One-time | Monthly SIP | ||
|---|---|---|---|
| Period | Total | Per year | Per year |
| 6 months | +3.54% | Under 1 yr | +1.17% total |
| Year to date | +10.88% | Under 1 yr | +2.27% total |
| 1 year | +10.88% | +10.88% | +8.26% |
| 2 years | +8.54% | +4.18% | +7.16% |
| Max (2.8 yrs) | +7.57% | +2.69% | +5.01% |
Figures as of 27 Sep 2026 Dividends reinvested at the fund manager’s published payment dates (not the October convention).
Calculate your return
Just this fund. Set an amount, pick one-time or monthly, and choose a period.
See the numbers behind this chart
| Month | Value of ৳1,000 |
|---|---|
| Dec 2023 | ৳1,000 |
| Jan 2024 | ৳1,019 |
| Feb 2024 | ৳1,013 |
| Mar 2024 | ৳994 |
| Apr 2024 | ৳985 |
| May 2024 | ৳947 |
| Jun 2024 | ৳990 |
| Jul 2024 | ৳990 |
| Aug 2024 | ৳1,021 |
| Sep 2024 | ৳991 |
| Oct 2024 | ৳970 |
| Nov 2024 | ৳970 |
| Dec 2024 | ৳970 |
| Jan 2025 | ৳970 |
| Feb 2025 | ৳970 |
| Mar 2025 | ৳970 |
| Apr 2025 | ৳970 |
| May 2025 | ৳970 |
| Jun 2025 | ৳970 |
| Jul 2025 | ৳970 |
| Aug 2025 | ৳970 |
| Sep 2025 | ৳970 |
| Oct 2025 | ৳970 |
| Nov 2025 | ৳970 |
| Dec 2025 | ৳970 |
| Jan 2026 | ৳1,055 |
| Feb 2026 | ৳1,070 |
| Mar 2026 | ৳1,039 |
| Apr 2026 | ৳1,042 |
| May 2026 | ৳1,053 |
| Jun 2026 | ৳1,084 |
| Jul 2026 | ৳1,163 |
| Aug 2026 | ৳1,081 |
| Sep 2026 | ৳1,076 |
Total-return NAV rebased to your amount. Dividends are reinvested by default; switch to taken as cash above.
How rough was the ride
Returns tell you where ICL INCTL Shariah Fund ended up. These tell you what holding it felt like on the way.
Worst fall from a peak (full history)
-7.5%
Largest drop from a high point to the low that followed.
How bumpy (full history)
9.8%
Yearly swing, about average.
Positive 12-month spells (full history)
45%
Share of rolling years that ended up.
Too young for the fixed 3-year window rated funds are measured on (it needs 36 closed months), so these use the full 2.8-year history, on monthly total-return points with dividends reinvested. How bumpy is the annualized standard deviation of those monthly returns; the worst fall is the largest peak-to-trough drop inside the window. Full method.
Rolling returns, full history
Every closed 1-year and 3-year window since Dec 2023, one-time with dividends reinvested, shown per year. A single look-back can flatter or punish a start date.
| Rolling window | Latest | Median | Best | Worst | Windows |
|---|---|---|---|---|---|
| 1 year | +10.93% | +0.00% | +19.90% | -5.00% | 22 |
| 3 years | Needs 3 years of history | ||||
Latest is the most recent closed window; median, best and worst summarize every overlapping window of that length.
Dividend record
1 cash dividend, ৳0.80 per unit in total on a ৳10 unit (8% of face value).
- 30 Jul 2026৳0.80 per unit · 8% of face
৳1,00,000 held max (2.8 yrs)
Cash kept aside, not reinvested.
Percentages are of the ৳10 face value, gross of tax. Each dividend is reinvested on the fund manager’s published payment date. Record: impresscapital.com. Method
Costs and fund details
What ICL INCTL Shariah Fund holds
From the fund’s quarterly portfolio disclosure. Percentages by market value.
Its 5 largest holdings are 45.34% of the fund.
31 Mar 2026 → 30 Jun 2026before now
Asset mix: Listed equity 56.50% → 52.97%; Government Sukuk 12.29% → 22.78%; Mudaraba term deposit is new (12.94%); Cash at bank is new (11.31%); Cash & Islamic deposits exited (was 25.68%); Receivables & prepayments exited (was 3.23%); Preliminary & issue expenses exited (was 2.29%).
Its 5 largest holdings went from 47.93% to 45.34% 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.
Shariah-screened portfolio: govt holdings are 7Y RDIRWSP Socio-Economic Development Sukuk; term deposits are Islamic (DBH Finance). Share counts for Marico print as 0.00 million on the statement (high unit price), so avg-cost economics are omitted for that row only. Base = Total Investment at market on the portfolio statement (securities + cash equivalents).
Side by side with another fund
Questions about ICL INCTL Shariah Fund
What kind of fund is ICL INCTL Shariah Fund?
ICL INCTL Shariah Fund is an Shariah-compliant open-end balanced 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 ICL INCTL Shariah Fund?
Over roughly 2.8 years to 27 Sep 2026, ICL INCTL Shariah Fund returned about +2.69% per year as a one-time investment, 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 ICL INCTL Shariah Fund?
ICL INCTL Shariah 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 ICL INCTL Shariah Fund have an exit load?
Up to Tk 0.10 per unit discount from NAV on surrender.
What is the minimum investment for ICL INCTL Shariah Fund?
ICL INCTL Shariah Fund has a one-time minimum of BDT 1,000 (100 units).
Is ICL INCTL Shariah Fund Shariah-compliant?
Yes. ICL INCTL Shariah Fund is a Shariah-compliant fund, investing only in Islamically permissible ways under a Shariah supervisory board.