May 14, 2023 - Sunday

A new close-end mutual fund of Tk 200 crore called 'Capitec Grameen Bank Growth Fund' is going to be launched in the capital market soon. Yesterday, May 14, 2023, Sunday at head office of Grameen Bank, the sponsor of the fund, Grameen Bank and the trustee of the fund, Investment Corporation of Bangladesh (ICB) signed an agreement in this regard. On the same day, Grameen Bank, the sponsor of the fund signed Investment Management Agreement with Capitec Asset Management Limited, as the asset manager.

Prominent Businessman and Chairman of Capitec Asset Management Limited, Mr. Hasan Rahman, Managing Director Mr. M. Mahfuzur Rahman and Chief Operating Officer, Mr. Sumit Paul, Chairman of Grameen Bank Prof. Dr. AKM Saiful Majid, Managing Director (Acting) Mr. Md. Mosleh Uddin, Deputy Managing Director (Human Resource & Service Management) Mr. Md. Sayeduzzaman Bhuiya, General Manager (Accounts & Finance) Mr. Prodip Kumar Saha, Managing Director of Investment Corporation of Bangladesh (ICB) Md. Abul Hossain, Deputy Managing Director Mr. Abu Taher Mohammad Ahmedur Rahman, Deputy General Manager Mr. Md. Shariqul Anam along with senior officers of three institutions were present at the ceremony of signing.

The main objective of the Capitec Grameen Bank Growth Fund is to generate risk adjusted return in the forms of capital appreciation, dividend income and to provide attractive dividend payments to the unit holders by investing the fund in authorized instruments of capital market and money market. A key strength of the new fund is that the fund will be managed by the Capitec Asset Management Limited, one of the fastest growing and reputed Asset Management Company in Bangladesh. This will be first close-end mutual fund managed by the Capitec Asset Management Limited. They are currently managing three other open-end funds with great reputation and success.