Agreement inked to manage MTB Index Fund
Wednesday, 27 October 2010
FE Report
Alliance Capital Asset Management Limited (ACAML), a new generation asset management company was formally launched Monday aiming to introduce diversified financial products for both individuals and corporate customers.
Mr. Samson H. Chowdhury, Chairman of Square Group and Mutual Trust Bank Limited inaugurated the asset management company at a city hotel as the chief guest.
The Securities and Exchange Commission on June 7, 2010 issued a licence to ACAML to launch its activities as asset management company in Bangladesh. The asset management company is expected to bring its first mutual fund in the first quarter of next year.
Meanwhile, ACAML, also appointed by the Mutual Trust Bank as the manager of Mutual Trust Bank's 'MTB Index Fund,' an index based open-end mutual fund, signed an agreement in this regard during the launching.
Mr. Anis A Khan, Managing Director of Mutual Trust Bank and Mr. Wali-ul-Maroof Matin, Managing Director, ACAML signed the agreement on behalf of their respective companies.
Mr. Samson H. Chowdhury, Chairman of Mutual Trust Bank Limited said," Investment in the capital market is growing rapidly as demand for shares soars amid supply crunch. We are hopeful that appointing ACAML as asset manager of MTB Index Fund will cater to the need of the investors."
Mr. Wali-ul-Maroof Matin, Managing Director, ACAML said, "MTB Index Fund will help diversify the capital market and will leave a positive impact on the investors as it will be one of the most transparent funds ever. Normally the investors do not know where their money is invested. MTB Index Fund is such a mutual fund where the general investors will know where their money is invested. This will create a positive impact among the investors."
"We are going to open a branch of Pearl Institute of Financial Market in Dhaka in December this year. This is a tripartite project of Bangladesh, India and Nepal. This institute will provide professional training on capital market related issues," he added.
Mr. Shakil Rizvi, President, DSE, Mr. Meer Sajed-Ul-Basher, Chief Financial Officer, MTB, Mr. Hamid Manirul Azam, Head of Finance and Compliance, ACAML among other officers from both the companies were present during the ceremony. Directors of ACAML and businessmen were also present on the occasion.
Alliance Capital Asset Management Limited (ACAML), a new generation asset management company was formally launched Monday aiming to introduce diversified financial products for both individuals and corporate customers.
Mr. Samson H. Chowdhury, Chairman of Square Group and Mutual Trust Bank Limited inaugurated the asset management company at a city hotel as the chief guest.
The Securities and Exchange Commission on June 7, 2010 issued a licence to ACAML to launch its activities as asset management company in Bangladesh. The asset management company is expected to bring its first mutual fund in the first quarter of next year.
Meanwhile, ACAML, also appointed by the Mutual Trust Bank as the manager of Mutual Trust Bank's 'MTB Index Fund,' an index based open-end mutual fund, signed an agreement in this regard during the launching.
Mr. Anis A Khan, Managing Director of Mutual Trust Bank and Mr. Wali-ul-Maroof Matin, Managing Director, ACAML signed the agreement on behalf of their respective companies.
Mr. Samson H. Chowdhury, Chairman of Mutual Trust Bank Limited said," Investment in the capital market is growing rapidly as demand for shares soars amid supply crunch. We are hopeful that appointing ACAML as asset manager of MTB Index Fund will cater to the need of the investors."
Mr. Wali-ul-Maroof Matin, Managing Director, ACAML said, "MTB Index Fund will help diversify the capital market and will leave a positive impact on the investors as it will be one of the most transparent funds ever. Normally the investors do not know where their money is invested. MTB Index Fund is such a mutual fund where the general investors will know where their money is invested. This will create a positive impact among the investors."
"We are going to open a branch of Pearl Institute of Financial Market in Dhaka in December this year. This is a tripartite project of Bangladesh, India and Nepal. This institute will provide professional training on capital market related issues," he added.
Mr. Shakil Rizvi, President, DSE, Mr. Meer Sajed-Ul-Basher, Chief Financial Officer, MTB, Mr. Hamid Manirul Azam, Head of Finance and Compliance, ACAML among other officers from both the companies were present during the ceremony. Directors of ACAML and businessmen were also present on the occasion.