The document of a 'Trust Deed' on 'Vanguard AML Growth Fund' being displayed after signing it by VAML Managing Director and Chief Executive Officer Waqar Ahmad Choudhury (left) and ICB Managing Director Kazi Sanaul Hoq at the ICB head office in the capital on Monday Vanguard Asset Management Limited (VAML) has initiated a process of adding a new open-ended mutual fund named 'Vanguard AML Growth Fund' to its existing portfolio.
In this regard, A 'Trust Deed' signing ceremony was held at the head office of the Investment Corporation of Bangladesh (ICB) on Monday, according to a statement.
VAML is the sponsor and asset manager of the 'Vanguard AML Growth Fund' while ICB will act as the trustee and custodian of the fund.
Managing Director and Chief Executive Officer of the VAML Waqar Ahmad Choudhury and Managing Director of the ICB Kazi Sanaul Hoq signed the deed.
The initial target of this fund will be Tk 100 million and the sponsor will provide Tk 10 million, which is 10 per cent of the initial fund size.
As an open-end mutual fund, the size of the fund will be increased from time to time by the AMC on requisition from the investors with due approval of the trustee and notification to the BSEC.
Dipika Bhattacharjee, GM & Member Trustee Division; Md. Taleb Hossain, DGM, Trustee Division, and Senior Executives of VAML were also present at the ceremony.
Vanguard AML Growth Fund is an open-ended fund to be launched with an aim to long-term capital appreciation, money market return from a portfolio of predominantly equity, equity-related instruments and fixed income instruments and/or securities for increasing the value of unit-holders (investors) wealth.
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