In line with the progression and expansion strategy, Shanta Asset Management Limited (SAML) has taken an initiative to lunch a new mutual fund concentrating mainly on fixed income securities namely “Shanta Fixed Income Fund”.
A Trust Deed Signing Ceremony was held on the occasion at the head office of Bangladesh General Insurance Company Ltd (BGIC Ltd) on Thursday.
SAML is both the Sponsor and the Asset Manager of the Fund while BGIC will act as the Trustee of the Fund.
Mohammad EmranHasan, CEO of SAML, and Ahmed SaifuddinChowdhury, Managing Director & CEO of Bangladesh General Insurance Company Ltd. (BGIC). In this signing ceremony, from SAML, Sazzad Mahmud, Head of Accounts and Operations, H M Jahid Hassan, CFA, Fund Manager and AparajitaSarkar, Deputy Manager, Marketing and Sales, while from BGIC, were also presentin the trust deed signing ceremony among others.
The initial target of this fund will be BDT 100 million and the sponsor will provide BDT 10 million. As an open-end mutual fund, the fund size can be increased over the time. Shanta Fixed Income Fund (SFIF) is mandated to maintain the investment in government securities within the range of 40.0% - 60.0% of its asset while the fund can invest maximum 50.0% of its assets in listed securities.
Addressing the event, Mohammad Emran Hassan, CEO of Shanta Asset Management Ltd., said “Focusing on investors’ demand for the investment diversification tool, we are going to launch a mutual fund namely Shanta Fixed Income Fund which will primarily focus on fixed income securities.”
