Business Report :
Investit Asset Management Limited has taken the initiative to launch its first open-end mutual fund named “Investit Growth Fund.”
The asset manager signed a trust deed with Sandhani Life Insurance on 2 September.
Investit is the main sponsor of the fund, while BRAC Bank will serve as the custodian, according to the press release.
Investit said in the press release, that this new fund is designed to provide investors with superior risk-adjusted returns through a focused investment strategy in growth stocks.
Key officials from both Investit Asset Management and Sandhani Life Insurance were present, including Emran Hasan, managing director of Investit, and Nemai Kumar Saha, CEO of Sandhani Life Insurance were present at the signing ceremony.
The asset manager said, “The initial size of the fund is Tk25 crore, with the sponsor contributing Tk2.5 crore and the remaining amount coming from individual and institutional investors.”
The fund’s size may be increased in the future with the Trustee’s approval, read the press release.
Emran Hasan said, “This is my sixth fund launch in my career, but it’s the first for Investit Asset Management.