Documents being exchanged after signing an investment management agreement between Rupali Bank Limited & Vanguard AML and Trust Deed in the city recently. Managing Director (MD) of Rupali Bank M Farid Uddin, MD & CEO of Vanguard AML Waqar Choudhury and MD & CEO of ICB Md Fayekuzzaman signed the deal on behalf of their respective organisations. Under the agreement, Tk 2.0 billion closed-end mutual fund 'Vanguard AML Rupali Bank Balanced Fund' will be launched in Bangladesh stock exchanges where Rupali Bank, Investment Corporation of Bangladesh (ICB) and Vanguard Asset Management Limited (AML) will act as sponsor, trustee & custodian and asset manager respectively. Sponsor contributed Tk 400 million, Tk 800 million allocated for pre-IPO placement and rest Tk 800 million will be raised from IPO.

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