07/06/2022
Trust Deed Signing Ceremony of Closed-end Mutual Fund Named “ICB AMCL CMSF Golden Jubilee Mutual Fund”
Capital Market Stabilization Fund (CMSF) is in the process of adding a new Closed-end mutual fund named “ICB AMCL CMSF Golden Jubilee Mutual Fund” to its portfolio.
CMSF is in close-partnership with relevant entities and completing all the formalities that are required to operationalize this closed-end mutual fund. Recently, it has obtained a very crucial approval from Bangladesh Securities & Exchange Commission (BSEC) in respect of the approval of trust deed and investment management agreement on dated 31 march, 2022.
In this regard, a ‘Trust Deed’ signing ceremony was held at Investment Corporation of
Bangladesh’s (ICB) head office on Monday dated April 11, 2022 at 10:30 am.
CMSF is the sponsor and ICB AMCL is the fund manager of the “ICB AMCL CMSF Golden Jubilee Mutual Fund” while Bangladesh General Insurance Company (BGIC) will act as the trustee and BRAC Bank Limited will act as the custodian of the fund.
Mr. Md. Monowar Hossain, Chief of Operation of Capital Market Stabilization Fund (CMSF), with A.T.M. Ahmedur Rahman, Chief Executive Officer (CEO) of Investment Corporation of Bangladesh Asset Management Company Limited, conducted the sign.
The size of this fund is BDT. 100 Crore the unit face value of BDT 10 and the sponsor(CMSF) will provide BDT. 50 Crore which is 50% of the fund size.
Professor Dr. Mohammad Tareq, Chairman, Golden Jubilee Mutual Fund Committee of CMSF stated that this fund will help the market to stabilize through investing in potential shares.
Mr. Abul Hossain, Managing Director of ICB expressed his optimism that there will be 100% subscription in this fund. He stated that if this fund becomes successful, it will reduce the uncertainty among the investors about Closed -end Mutual Fund. He expressed his belief that with the reputation and experience of Mr. Nojibur Rahman, Chairman, CMSF, the fund will be successful and it will create positive vibration and boosting up the confidence of investors about the mutual fund.
Mr. Md. Monowar Hossain, FCA, FCMA, Distinguished Chief of Operation, CMSF expressed his optimism that this mutual fund will contribute a lot to stabilize the market and he emphasized on the significant contribution of the relevant entities.
The Honorable Chairman, CMSF, Mr. Md. Nojibur Rahman expressed hope and believe on the potentials of investor friendly framework of the mutual fund. He stated that it is a good initiative by BSEC to increase the standard quality of the capital market and this fund is dedicated to the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman and to commemorate the Glorious Golden Jubilee of our independence and mujibborsho. He stated that BSEC and CMSF has made a good combination of the best organization of the market to open the door of opportunities for the investors. This fund will protect the interest of small investors and will be a role model of the Mutual Funds.
Mr. Md. Nojibur Rahman, Chairman, Capital Market Stabilization Fund (CMSF), and Dr. Mohammad Tareq, Professor, AIS, DU, Independent Director, CCBL and Board of Governors , CMSF and Mr. Md. Abul Hossain, Managing Director of Investment Corporation of Bangladesh (ICB) and Mr. Ahmed Saifuddin Chowdhury Minto, MBA MD & CEO of Bangladesh General Insurance Company (BGIC); representatives of BRAC Bank Limited and CMSF officials were also present in the ceremony.