Subscription of 'Sandhani AML SLIC Fixed Income Fund' begins today

Subscription of 'Sandhani AML SLIC Fixed Income Fund' --- an open-end mutual fund --- will commence today (Sunday).
The initial size of the fund is Tk 500 million. Of them, the sponsor of the fund --- Sandhani Life Insurance ---will provide Tk 100 million and the remaining Tk 400 million will be collected through sales of units of the fund.
The offer price of the units of the Sandhani AML SLIC Fixed Income Fund is Tk 10 each.
Subscription of 'Sandhani AML SLIC Fixed Income Fund' will continue until August 30, Md Tanvir Islam, Chief Investment Officer of Sandhani Asset Management Ltd told the FE.
The Bangladesh Securities and Exchange Commission (BSEC) approved the draft prospectus of Sandhani AML SLIC Fixed Income Fund on June 1 of this year.
Sandhani Asset Management Ltd, the asset manager of the fund, is going to arrange inaugural of Sandhani Asset Management Ltd and launching of 'Sandhani AML SLIC Fixed Income Fund', today (Sunday) at the auditorium of Capital Market Journalists' Forum (CMJF) in the capital, officials said.
Dr. Mizanur Rahman, a commissioner of the BSEC, is expected to remain present as the chief guest at the inaugural ceremony while Tarique Amin Bhuiyan, managing director of the Dhaka Stock Exchange, and Richard D' Rozario, president of DSE Brokers Association of Bangladesh (DBA), will attend as special guests.
Mir Ariful Islam, managing director & CEO of the Sandhani Asset Management Ltd and high officials of the company, will also present, among others.
Bangladesh General Insurance Company Ltd is working as trustee while Brac Bank Ltd is the custodian of the mutual fund.
The fund's asset manager - Sandhani Asset Management - will focus on mid-and large-cap stocks, while capital protection will get high priority.
Mutual funds pool money from investors to channel it into securities such as stocks, bonds, and other assets. Depending on the profits earned, investors are then paid their share as dividends.
Open-end mutual funds are not listed with the stock market but one can buy them from a fund managers' office on the basis of its net asset value.
Similarly, investors can sell-off fund units at any time at prices based on its current net asset value.
Sandhani Asset Management Ltd is a subsidiary company of Sandhani Life Insurance Company Ltd (SLICL), a listed company with DSE and Chittagong Stock Exchange.
Each share of the Sandhani Life Insurance, which was listed with the DSE in 1996, closed at Tk 28.80 on Thursday.
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