Dhaka, Bangladesh (BBN)- Alliance Capital Asset Management Limited (ACAML), an asset management company, was formally launched on Monday aiming to introduce diversified financial products for both individuals and corporate customers.
Mr. Samson H. Chowdhury, Chairman of Square Group and Mutual Trust Bank Limited inaugurated the asset management company at a city hotel as the chief guest.
On June 7, this year, the Securities and Exchange Commission issued a license to ACAML to launch its activities as asset management company in Bangladesh. The asset management company is expected to bring its first mutual fund in the first quarter of next year.
Meanwhile, ACAML, also appointed by the Mutual Trust Bank as the manager of Mutual Trust Bank's 'MTB Index Fund,' an index based open-endmutual fund, signed an agreement in this regard during the launching.
Anis A Khan, Managing Director of Mutual Trust Bank and Wali-ul-Maroof Matin, Managing Director, ACAML signed the agreement on behalf of their respective companies.
Shakil Rizvi, President, DSE, Mr. Meer Sajed-Ul-Basher, Chief Financial Officer, MTB, Hamid Manirul Azam, Head of Finance and Compliance, ACAML among other officers from both the companies were present during the ceremony. Directors of ACAML and businessmen were also present on the occasion.
BBN/SSR/AD-27Oct10-10:03 am (BST)