Terms & Conditions of Zenith Annual Income Fund-ZAIF

  1. The Units of mutual funds of ZAIF, hereinafter referred to as the Fund, may be bought through Zenith Investments Limited and authorized selling agents appointed by Zenith from time to time. Surrender of Units is allowed only through Zenith Investments Limited or the selling agents appointed by Zenith Investments Limited.
  2. Application may be made by an individual (both resident and non-resident), a corporation or company (both local and foreign), a trust or a society (registered in or outside of Bangladesh) and not by a firm, minor or unsound mind.
  3. Joint application is acceptable by two persons. Registration and Unit allocation will be in favor principal applicant while dividend and others benefits, if any, will be addressed to the bank account or principal applicant mentioned in the application form. In case of the death of any of the joint holders, only the survivor shall be recognized as having any title of the Units. On death of both the joint holders, the Units will bestow upon the nominee.
  4. Minimum purchase amount of the individual investor is 500 (five hundred) Units and for institutional investor is 5,000 (five thousand) Units.
  5. Application for purchase of Units should be accompanied by an account payee cheque / pay order / bank draft in favor of the mutual fund.
  6. After clearance/encashment of cheque / draft / pay order, the applicant will be allocated Units of the Fund against every purchase with a denomination of number of units the institutional investor applies for. The units will be delivered to the unit holder’s B/O account in demat form.
  7. Partial surrender is allowed subject to minimum surrender quantity is 500 (five hundred) Units for individuals and 5,000 (five thousand) units for institutions. Upon partial surrender, the Unit holder will be issued with a new Confirmation of Unit Allocation representing the balance of Unit Holding.
  8. The Units may be transferred by way of inheritance/gift and/or by specific operation of the law. In case of transfer the fund may charge a nominal fee as decided by the asset manager from time to time except in the case of transfer by way of inheritance.
  9. Dividend may be delivered in cash or by way of Units under Cumulative Investment Plan (CIP) as mentioned in the application form.
  10. All payments / receipts in connection with or arising out of transactions in the Units hereby applied for shall be in Bangladeshi Taka.
  11. Application by Charitable Organization/Provident Fund/Trust must be accompanied by the relevant documents as mentioned in the application form and the power of Attorney in favor of the person(s) signing the application should be attached.