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  • Last Update : 12:18 am

AIMS of Bangladesh to launch series of mutual funds in 2021

  • Published at 10:07 pm December 6th, 2020
AIMS of Bangladesh meeting
Top officials of AIMS of Bangladesh hold a meeting in the capital on Thursday, December 3, 2020 Courtesy

Likely to be released serially at regular intervals from the first quarter of 2021

Responding to encouragements from the regulator and in support to the endeavors for reviving the industry, Aims of Bangladesh will float a multi-scheme series of mutual funds for the local capital market.

Named "AIMS Resurrection Series Mutual Fund", it will be solely sponsored and managed by the organisation and is likely to be released serially at regular intervals from the first quarter of 2021, said a press release.

This would be the first mutual fund launched by AIMS in a decade and one with its own name in two decades.

Sandhani Life Insurance will act as the trustee and Brac Bank as the custodian.

The proposed fund will have both open and closed end schemes, both listed and over-the-counter, of different size and characteristics.

The decision was taken during the organisation's 76th meeting in the capital on Thursday. Prof Akhter Hossain, its director, chaired the meeting.

AIMS of Bangladesh pioneered the first privately managed mutual fund in the country in 1999.

They also manage the Grameen and Reliance mutual funds, both listed on the stock exchanges.

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