Investit Asset Management announces subscription date for first open-ended mutual fund

Investit Asset Management Limited (IAML) has announced the subscription period for its maiden open-ended mutual fund, the Investit Growth Fund.

According to a press release issued by the company on Tuesday, the subscription will begin on January 1, 2025, with units priced at a face value of Tk 10 each.

The minimum investment for individual investors is BDT 5,000, while institutional investors must commit at least BDT 50,000. The fund is open to a wide range of participants, including retail investors, non-resident Bangladeshis (NRBs), and institutions.                 

IAML will serve as both the sponsor and asset manager for the fund. Sandhani Life Insurance will act as the Trustee, and BRAC Bank PLC will serve as the Custodian. The Bangladesh Securities and Exchange Commission (BSEC) has already approved the fund.

Initial Fund Details

The initial size of the Investit Growth Fund is set at BDT 25 crore, with the sponsor contributing BDT 2.5 crore. The remaining BDT 22.5 crore will be raised from individual and institutional investors. There is potential for future expansion of the fund, pending Trustee approval.

CEO’s Vision

Mohammad Emran Hasan, Managing Director and CEO of Investit Asset Management, stated: “Our fund is dedicated to maximizing long-term wealth for our valued investors through strategic investments in rigorously researched, high-quality growth stocks. We believe our commitment to integrity and a client-focused approach provides a strong foundation for success. We view current market conditions as an opportunity to construct well-diversified portfolios. Furthermore, our firm has demonstrated its confidence in the fund by investing our own capital as a sponsor.”

The Investit Growth Fund aims to offer investors a diversified portfolio with a focus on long-term growth opportunities, bolstered by IAML’s market expertise and commitment to ethical investment practices.

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