ICL INCTL Shariah Fund
ICL INCTL Shariah Fund returned 3.09% a year since launch, over 2.8 years, with cash dividends reinvested, based on NAV history through 2 Sep 2026.
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.
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 | 108.70 |
Latest NAV date: 3 Sep 2026.Source: Impress Capital Limited (ICL)'s website.Figures as of 2 Sep 2026.
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.
A ৳1,00,000 investment held over max (2.8 yrs) would be worth about ৳1,08,740 with dividends reinvested, or ৳1,09,260 taking every dividend as cash.
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.
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).
Table is in AMC-aligned mode for this fund.
| Return period | Total return | Per year | Monthly SIP /yr |
|---|---|---|---|
| 6 months | +4.68% | +9.57% | +7.98% |
| Year to date | +12.09% | +16.44% | +8.28% |
| 1 year | +12.09% | +12.09% | +10.43% |
| 2 years | +9.73% | +4.75% | +8.26% |
| Max (2.8 yrs) | +8.74% | +3.09% | +5.76% |
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 | +12.06% | +0.00% | +19.90% | -5.00% | 22 |
| 3 years | Needs 3 years of history | ||||
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.
Track record too short for the fixed 3-year window (needs 36 closed months). Figures below use about 2.8 years of available history:
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.
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 | ৳1,087 |
Total-return NAV rebased to your amount. Dividends are reinvested by default; switch to taken as cash above.
Fund details
What ICL INCTL Shariah Fund holds
As of 30 Jun 2026From 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 3 Sep 2026, ICL INCTL Shariah Fund returned about +3.09% 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 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.