Unit-holders agree to extend tenure for 10 years more

FE Report

The unit-holders of the AIMS First Guaranteed Mutual Fund (AFGMF) have given their consent in favour of extending the tenure of the fund for ten years more, officials said.

They spoke for the extension of the fund's tenure at the annual general meeting (AGM) of the AFGMF held Wednesday in the capital city.  

Yawer Sayeed, managing director of the AIMS of Bangladesh, said the tenure of the AFGMF will end on June 30, 2015 and that's why we have held the fund's AGM one year earlier of completing the tenure to comply with the securities rules.   

"Almost all unit holders who attended the AGM gave their consent for running the AFGMF for another ten years considering the fund's profit- making trend," Mr. Sayeed said.  

He said the AFGMF never counted loss and the average dividends disbursed so far varied from 20 per cent to 30 per cent. "The net asset value (NAV) of the AFGMF was Tk 50 on Thursday."  

Mr. Sayeed said the AGM of Grameen Mutual Fund One, another mutual fund managed by the AIMS, will be held today (Thursday).

"The proposal for extending the tenure of the Grameen Mutual Fund One will also be placed at the AGM," Sayeed said.