Trust deed signed on Tk 250m Sandhani AML SLFL Shariah Fund

Sandhani Life Finance Limited (SLFL) is going to launch its maiden shariah compliant open-ended mutual fund named “Sandhani AML SLFL Shariah Fund” with an initial target size of Tk 250 million.

In this regard, the trust deed has been signed with Bangladesh General Insurance Company (BGIC) recently at BGIC’s head office, says a press release.

The Bangladesh Securities and Exchange Commission (BSEC) approved the trust deed.

Sandhani Life Finance, acts as the sponsor of the fund, while BGIC is the trustee of the fund.

Muhammad Nazrul Islam, Managing Director & CEO of Sandhani Life Finance, and Ahmed Saifuddin Chowdhury, Managing Director & CEO of BGIC, signed the trust deed on behalf of their respective institutions.

With an initial target size of Tk 250 million, the Sandhani AML SLFL Shariah Fund will be managed by Sandhani Asset Management (Sandhani AML). This marks Sandhani AML’s second open-ended mutual fund and its first Shariah-compliant offering.

The fund is designed to deliver superior risk-adjusted returns to investors who are seeking Shariah based investment options in the capital market, says the press release.

The asset management company aims to ensure active and professional fund management while making the fund widely accessible through both conventional and digital distribution channels.

In 2022, Sandhani Asset Management launched the country’s first no-dividend mutual fund — Sandhani AML SLIC Fixed Income Fund — which currently has an Asset Under Management (AUM) exceeding Tk 1 billion.

Col. Wais Huda (Retd.), Chairman of Sandhani Life Finance, Anisuz Zaman Chowdhury, Financial Consultant of BGIC, Mahmudul Bari, Advisor of Sandhani Group, Md. Shaheduzzaman Choudhury, Chairman of Sandhani AML, Mir Ariful Islam, Managing Director & CEO of Sandhani Asset Management, and Md Tanvir Islam, Chief Investment Officer & Senior Compliance Officer of Sandhani AML, were present at the event.

The event reflects a strong collaborative step toward promoting Shariah-based investment opportunities in Bangladesh’s growing financial sector.

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