UCB Taqwa Growth Fund

GrowthShariah+ dividends

Open-end growth mutual fund in Bangladesh, Shariah-compliant, managed by UCB Asset Management Limited (UCB AML). Tracked since Apr 2022, with dividends reinvested by default or taken as cash.

৳1,00,000 invested 3 years ago is ৳1,08,740 today.

UCB Taqwa Growth Fund returned 2.83% a year over the last 3 years as a one-time investment, with cash dividends reinvested, based on NAV history through 27 Sep 2026.

This fund৳1,08,740
Sanchayapatra at 11.7%/yr৳1,39,367
Worst fall
-8.1%
Last 3 years, to Jul 2026
Whole record
+2.12%/yr
4.5 yrs · Since Apr 2022
NAV per unit
৳10.01
27 Sep 2026
Fund size
৳17 cr
Net assets
Start 100Now 110

Total-return path since Apr 2022, dividends reinvested.

Index, not taka.

See the numbers behind this chart
Month-by-month total-return index for UCB Taqwa Growth Fund, dividends reinvested
MonthTotal-return index
Apr 2022100.00
May 202299.70
Jun 202299.90
Jul 202299.50
Aug 2022100.10
Sep 2022100.90
Oct 2022101.00
Nov 2022101.20
Dec 2022101.80
Jan 2023101.90
Feb 2023102.00
Mar 2023102.40
Apr 2023100.00
May 2023100.10
Jun 2023100.40
Jul 2023100.40
Aug 2023100.80
Sep 2023100.90
Oct 2023104.00
Nov 2023104.20
Dec 2023104.50
Jan 2024105.40
Feb 2024103.80
Mar 2024101.00
Apr 2024100.00
May 202496.90
Jun 2024100.60
Jul 2024100.20
Aug 2024107.30
Sep 2024107.20
Oct 2024106.00
Nov 2024106.20
Dec 2024107.40
Jan 2025105.60
Feb 2025106.20
Mar 2025106.70
Apr 2025107.30
May 2025106.90
Jun 2025107.90
Jul 2025104.60
Aug 2025104.90
Sep 2025103.40
Oct 2025108.40
Nov 2025107.60
Dec 2025105.70
Jan 2026108.10
Feb 2026109.50
Mar 2026107.80
Apr 2026107.70
May 2026107.80
Jun 2026109.70
Jul 2026110.00
Aug 2026109.90
Sep 2026109.70

Where these numbers come from

  1. PricesNAV from UCB Asset Management Limited (UCB AML)'s website, checked four times a day. Latest print 27 Sep 2026.
  2. Dividends2 cash dividends on record, from the fund manager’s published record. See the record
  3. Fund manager reviewNot yet reviewed by the fund manager.

Figures as of 27 Sep 2026. How every figure is built

Among 17 growth funds

14th of 17 by return over the last 3 years, one-time with dividends reinvested.

Return per year

Lowest -2.06%Middle +7.02%Highest +13.14%

Worst fall from a peak

Deepest -23.3%Middle -12.9%Smallest -8.1%

Fell less than 15 of the other 15.

See all 17 growth funds
#FundPer yearWorst fall
1Ekush Growth Fund (EGF)+13.14%-9.7%
2EDGE AMC Growth Fund (EDGEAMCGF)+11.77%-11.0%
3EDGE Bangladesh Mutual Fund (EDGEBDMF)+11.69%-11.3%
4IDLC Growth Fund (IGF)+10.13%-8.8%
5CWT Emerging Bangladesh First Growth Fund (CWTEBFGF)+9.31%-12.2%
6BCB ICL Growth Fund+9.22%-12.4%
7VIPB Growth Fund+7.91%-14.2%
8Esquire ICL Apparel Fund+7.88%-14.0%
9VIPB NLI 1st Unit Fund+7.02%-13.6%
10VIPB SEBL 1st Unit Fund+6.97%-14.0%
11CWT Opportunities Fund (CWTOF)+5.92%-13.5%
12CWT Sadharan Bima Growth Fund (CWTSBGF)+5.89%-15.0%
13IDLC AML Shariah Fund (IAMLSF) Shariah+2.98%-9.9%
14UCB Taqwa Growth Fund Shariah+2.83%-8.1%
15CWT Community Bank Shariah Fund (CWTCBSF) Shariah+2.41%n/a
16Shanta First Income Unit Fund (SFIUF)+0.26%-23.3%
17Shanta Amanah Shariah Fund (SASF) Shariah-2.06%-21.2%

Return: one-time, dividends reinvested, over the last 3 years to each fund’s latest NAV (24 Sep 2026 to 28 Sep 2026). Worst fall: the 3 years to Jul 2026, monthly points. 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.

One-time Monthly SIP
Period Total Per year Per year
6 months+1.73%Under 1 yr+0.80% total
Year to date+3.84%Under 1 yr+1.15% total
1 year+6.12%+6.12%+4.15%
2 years+2.37%+1.18%+2.55%
3 years+8.74%+2.83%+2.72%
Max (4.5 yrs)+9.71%+2.12%+2.41%

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

Figures as of 27 Sep 2026 Total return includes the fund’s cash dividends (about 7%/yr), reinvested by default.

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 UCB Taqwa Growth Fund, dividends reinvested
MonthValue of ৳1,000
Apr 2022৳1,000
May 2022৳997
Jun 2022৳999
Jul 2022৳995
Aug 2022৳1,001
Sep 2022৳1,009
Oct 2022৳1,010
Nov 2022৳1,012
Dec 2022৳1,018
Jan 2023৳1,019
Feb 2023৳1,020
Mar 2023৳1,024
Apr 2023৳1,000
May 2023৳1,001
Jun 2023৳1,004
Jul 2023৳1,004
Aug 2023৳1,008
Sep 2023৳1,009
Oct 2023৳1,040
Nov 2023৳1,042
Dec 2023৳1,045
Jan 2024৳1,054
Feb 2024৳1,038
Mar 2024৳1,010
Apr 2024৳1,000
May 2024৳969
Jun 2024৳1,006
Jul 2024৳1,002
Aug 2024৳1,073
Sep 2024৳1,072
Oct 2024৳1,060
Nov 2024৳1,062
Dec 2024৳1,074
Jan 2025৳1,056
Feb 2025৳1,062
Mar 2025৳1,067
Apr 2025৳1,073
May 2025৳1,069
Jun 2025৳1,079
Jul 2025৳1,046
Aug 2025৳1,049
Sep 2025৳1,034
Oct 2025৳1,084
Nov 2025৳1,076
Dec 2025৳1,057
Jan 2026৳1,081
Feb 2026৳1,095
Mar 2026৳1,078
Apr 2026৳1,077
May 2026৳1,078
Jun 2026৳1,097
Jul 2026৳1,100
Aug 2026৳1,099
Sep 2026৳1,097
৳5,000 · Apr 2022৳5,485 · 27 Sep 2026

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 UCB Taqwa Growth Fund ended up. These tell you what holding it felt like on the way.

Worst fall from a peak (last 3 years)

-8.1%

Jan 2024 to May 2024 · Back to the old peak in 3 months.

Worst 12 months (last 3 years)

-3.5%

Best 12 months: +10.3%.

How bumpy (last 3 years)

7.1%

Yearly swing, steadier than most.

Market sensitivity (last 3 years)

0.15

Against DSEX, moves largely on its own.

Positive 12-month spells (last 3 years)

84%

Share of rolling years that ended up.

Measured over the 3 years to Jul 2026, the same fixed window every rated fund is measured on, 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 Apr 2022, 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+6.09%+1.92%+10.32%-3.54%42
3 years+2.83%+2.38%+3.09%+0.82%18

Latest is the most recent closed window; median, best and worst summarize every overlapping window of that length.

Dividend record

2 cash dividends, ৳0.95 per unit in total on a ৳10 unit (9.5% of face value).

  1. FY 2022-23৳0.25 per unit · 2.5% of face
  2. FY 2023-24No cash dividend
  3. FY 2024-25৳0.70 per unit · 7% of face

৳1,00,000 held max (4.5 yrs)

Dividends reinvested৳1,09,710
Taken as cash৳1,09,490

Cash kept aside, not reinvested. Reinvesting added about ৳220.

Percentages are of the ৳10 face value, gross of tax. Each year’s dividend is modeled as reinvested in October, the site-wide convention. Record: ucbasset.com. Method

Costs and fund details

Management fee2.50% down to 1.00% per year (tiered by fund size)
Early-exit feeExit load if redeemed before 360 days (before 3 years for SIP); rate set by the AMC; no entry load
Minimum investmentBDT 5,000 individual / BDT 50,000 institution
Minimum monthly (SIP)BDT 5,000/month
LiquidityOpen-end; surrendered back to the fund at NAV, not sold on an exchange. Confirm current dealing days and pricing with the AMC.
Asset managerUCB Asset Management Limited (UCB AML)
SponsorUnited Commercial Bank PLC
TrusteeSandhani Life Insurance Company
CustodianBRAC Bank
Face valueBDT 10 per unit

What UCB Taqwa Growth Fund holds

As of 30 Jun 2026

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

Asset mix
Government Sukuk 55.14%Listed equity 24.50%Cash at bank 15.31%FDR / term deposit 5.05%
Top holdings
Government Sukuk (BDS092701051)20.81%
Government Sukuk (BDS093302072)17.17%
Marico Bangladesh9.75%
avg cost ৳2,700.67 · stmt mkt ৳2,771.62
Government Sukuk (BDS093303072)9.36%
Grameenphone8.84%
avg cost ৳315.74 · stmt mkt ৳259.56
Government Sukuk (BDS093104058)7.80%
Renata5.91%
avg cost ৳829.35 · stmt mkt ৳455.80
Mutual Trust Bank FDR5.05%

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 65.93% of the fund.

What changed in the latest statement

31 Mar 2026 → 30 Jun 2026

+ Government Sukuk (BDS092701051) · new, 20.81%+ Government Sukuk (BDS093302072) · new, 17.17%+ Government Sukuk (BDS093303072) · new, 9.36%+ Government Sukuk (BDS093104058) · new, 7.80%+ Mutual Trust Bank FDR · new, 5.05%− 5Y IRIDP-3 Social Impact Sukuk · no longer held− IRIDPNFL Socio-Economic Dev. Sukuk · no longer held− Berger Paints Bangladesh · no longer held− Robi Axiata · no longer held

Asset mix: Listed equity 38.49% → 24.50%; Cash at bank 1.41% → 15.31%; FDR / term deposit 20.85% → 5.05%; Government Sukuk is new (55.14%); Sukuk / Islamic securities exited (was 39.25%).

Its 5 largest holdings went from 66.67% to 65.93% of the fund.

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

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

Side by side with another fund

Questions about UCB Taqwa Growth Fund

What kind of fund is UCB Taqwa Growth Fund?
UCB Taqwa Growth Fund is an Shariah-compliant open-end growth mutual fund in Bangladesh, managed by UCB Asset Management Limited (UCB AML). You buy and redeem units at its published net asset value (NAV), and it has no fixed maturity.

What is the historical return of UCB Taqwa Growth Fund?
Over roughly 4.5 years to 27 Sep 2026, UCB Taqwa Growth Fund returned about +2.12% 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 UCB Taqwa Growth Fund?
UCB Taqwa 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 UCB Taqwa Growth Fund have an exit load?
Exit load if redeemed before 360 days (before 3 years for SIP); rate set by the AMC; no entry load.

What is the minimum investment for UCB Taqwa Growth Fund?
UCB Taqwa Growth Fund has a one-time minimum of BDT 5,000 individual / BDT 50,000 institution and a monthly SIP from BDT 5,000/month.

Is UCB Taqwa Growth Fund Shariah-compliant?
Yes. UCB Taqwa Growth Fund is a Shariah-compliant fund, investing only in Islamically permissible ways under a Shariah supervisory board.

Compare UCB Taqwa 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.

3 of 5

Score 64.9, 9th of 16 growth funds by score. 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.

Over this window its return beat the DSEX (-3.2%/yr) but not the 91-day T-bill average (10.9%/yr). Its score of 64.9 is in the 4-star band, but stars above 3 need both yardsticks beaten, so it is held at 3.

One-time, per year (3 yr)
+3.10%
Downside deviation
3.7%
Worst drop
-8%
Consistency
84%
Versus the market (DSEX)

Beta 0.15 · has moved largely independently of the DSEX market index (low correlation: it explains only about 12% of its month-to-month swings).

Shariah rating

3 of 5 · 2nd of 5 Shariah funds ReturnKoto? tracks by score, rated against each other. This is separate from its growth-fund rating above. Held at 3 here too, because over this window it did not beat the 91-day T-bill average (10.9%/yr).

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