Pvt mutual fund pioneer Yawer Sayeed passes away

Yawer Sayeed, a pioneer of Bangladesh's private mutual funds, passed away early Saturday in Gold Coast, Queensland, Australia.
Sayeed, managing director of the first private asset management company AIMS of Bangladesh, launched the first private mutual fund, AIMS First Guaranteed Mutual Fund, in 2000.
The board of directors, management and employees of AIMS of Bangladesh expressed profound grief at his passing, according to a press release.
After AIMS First Guaranteed Mutual Fund, Mr Sayeed gradually floated five more mutual funds and managed them with efficiency.
His funds distributed good dividends and earned investors' confidence through performance, transparency and regulatory compliance.
Mr Sayeed played an important role in the development of the country's capital market and financial sector.
In a career spanning over 40 years, he helped frame market-friendly policies through active participation in different committees of the securities regulator.
Apart from working as a consultant and performance auditor for the Asian Development Bank, he provided advisory services to the World Bank and other multilateral agencies.
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