Business Desk :
Bangladesh Securities and Exchange Commission has approved the draft Trust Deed of two new mutual funds to be sponsored by Midland Bank PLC: Midland Bank Growth Fund and Midland Bank Balanced Fund. Each fund has an initial size of Tk. 25 crore, with Midland Bank PLC contributing 10 per cent as the sponsor.
A Trust Deed signing ceremony was held on Wednesday at the bank’s head office in the company, to formalise the agreement with the Trustee, Sandhani Life Insurance Company Limited, says a press release. Md. Ahsan-uz Zaman, Managing Director & CEO of Midland Bank PLC., and Md. Mizanur Rahman, Company Secretary of Sandhani Life Insurance, executed the Trust Deeds. Senior officials from both organisations were present.
Midland Bank Asset Management Company will act as the Asset Manager, and Commercial Bank of Ceylon Bangladesh PLC will be the Custodian.
