The signing ceremony of "Vanguard AML & BD Finance Mutual Fund One" on Investment Management Agreement between BD Finance Investment Company Limited & Vanguard AML and Trust Deed between Bangladesh Finance And Investment Company Limited (BD Finance) & Bangladesh General Insurance Company Limited (BGIC) in progress Monday. Mr. Mafizuddin Sarker, Managing Director & CEO, BD Finance and Waqar Choudhury, MD & CEO, Vanguard AML and Mr. A. K Azizul Huq Chaudhuri, Managing Director & CEO, BGIC, Mr. Anwar Hossain, Chairman, Anwar Group and Mr. Manwar Hossain, Chairman, BD Finance seen.

An investment management agreement was signed Monday between the BD Finance and Vanguard in a bid to offload a Tk 2.0 billion closed-end mutual fund (MF), officials said.A Trust Deed agreement of the MF has also been signed between the BD Finance and Bangladesh General Insurance Company (BGIC).The agreements were signed at Dhaka Chamber of Commerce and Industry (DCCI) in presence of the representatives of the respective organisations.The MF which will be offloaded under the sponsorship of Bangladesh Finance and Investment (BD Finance) is 'Vanguard AML BD Finance Mutual Fund One (VABFMF-one).

 

Vanguard Asset Management Limited has been appointed the fund manager of the VABFMF-one, whereas the BGIC and BRAC Bank will act as Trustee and the Custodian of the fund.Of Tk 2.0 billion, Tk 200 million will be provided by the BD Finance as sponsor, Tk 1.0 billion would be raised through pre-IPO (initial public offering) placement and the remaining Tk 800 million will be subscribed through the IPO.

At the signing ceremony, among others, the chairman of Anwar Group Anwar Hossain, the chairman of BD Finance Manwar Hossain, the managing director of the Investment Corporation of Bangladesh (ICB) Md. Fayekuzzaman, the president of the Bangladesh Merchant Bankers Association (BMBA) Mohammad A Hafiz, the chairman of the Vanguard Sharif Zahir, the managing director and CEO of BD Finance Mafizuddin Sarker, the managing director and CEO of Vanguard Waqar A Chowdhury, the managing director of the BGIC AK Azizul Huq were present.

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