Mutual Trust Bank Limited, sponsor of the MTB Unit Fund, a Tk 100 crore open end mutual fund, signed a deed with trustee Bangladesh General Insurance Company Limited (BGIC) in the city on Thursday, says a press release. Managing director and chief executive officer of Mutual Trust Bank Anis A Khan and managing director and chief executive officer of BGIC A K Azizul Huq Chaudhuri signed the deal.
The Securities and Exchange Commission approved the draft trust deed of the fund through a letter dated September 25. Mutual Trust Bank will provide Tk 20 crore as the sponsor of the fund and the rest Tk 80 crore will be collected from the market.
The fund will be managed by asset management company Alliance Capital Asset Management Limited with BRAC Bank Limited acting as the custodian.
An investment management agreement was signed on the same day with Alliance Capital Asset Management Limited.
Managing director and chief executive officer of Mutual Trust Bank Anis A Khan and chairman and managing director of Alliance Capital Asset Management Limited Wali-ul-Maroof Matin signed the agreement.
Anis A Khan said, “We are glad to partner with BGIC and Alliance Capital. We hope this synergy will provide better opportunities for the investors.”
Wali-ul-Maroof Matin said, “This is a buyers’ market at the moment and investing in the market before it sees an upward turn would be a smart thing to do. Investing in mutual fund is always a smart decision.”
MTB’s deputy managing directors Quamrul Islam Chowdhury, Md Hashem Chowdhury and Md Ahsan-uz Zaman, group financial officer Meer Sajed-Ul-Basher, BGIC’s head of structural investment Adnan Alam, chief manager (Share & Investment) Debabrata Banik, ACAML’s  chief investment officer Mohammed Atiquzzaman, head of finance and compliance Hamid Manirul Azam along with other senior executives from all three organisations were present on the occasion.

News: Independent/ Bangladesh/ 24-Oct-2011