PHP Group to sponsor mutual fund
Friday, 21 May 2010
Our Correspondent
CHITTAGONG, May 20: PHP Group, one of the major industrial houses of the country, is going to sponsor a mutual fund worth Tk 2.0 billion.
The PHP Group signed a trust deed at its corporate office in the city with the BGIC as trustee to float the mutual fund. RACE Asset Management will act as asset management.
Out of the fund about Tk 1.0 billion will be reserved for the general investors, the PHP management said.
The trust deed was signed by PHP Group managing director Ali Hussain Chowdhury and BGIC managing director AK Azizul Huq. It was attended by PHP Group chairman Alhaj Sufi Mizanur Rahman, director Akhter Parvez Chowdhury, assistant managing director of BGIC Ahmed Saifuddin Chowdhury, financial consultant Anisuzzaman Chowdhury and Mashrib Wahid of RACE Asset Management.
Following the signing ceremony PHP Group chairman Sufi Mizanur Rahman said, the PHP group has all along performed a pioneering role in the country's economic development.
CHITTAGONG, May 20: PHP Group, one of the major industrial houses of the country, is going to sponsor a mutual fund worth Tk 2.0 billion.
The PHP Group signed a trust deed at its corporate office in the city with the BGIC as trustee to float the mutual fund. RACE Asset Management will act as asset management.
Out of the fund about Tk 1.0 billion will be reserved for the general investors, the PHP management said.
The trust deed was signed by PHP Group managing director Ali Hussain Chowdhury and BGIC managing director AK Azizul Huq. It was attended by PHP Group chairman Alhaj Sufi Mizanur Rahman, director Akhter Parvez Chowdhury, assistant managing director of BGIC Ahmed Saifuddin Chowdhury, financial consultant Anisuzzaman Chowdhury and Mashrib Wahid of RACE Asset Management.
Following the signing ceremony PHP Group chairman Sufi Mizanur Rahman said, the PHP group has all along performed a pioneering role in the country's economic development.