Dhaka, Bangladesh (BBN) - Prime Financial First Unit Fund, country's first private open end mutual fund launched its journey on Sunday.
Chairman of Securities and Exchange Commission (SEC) Ziaul Haque Khondker was the chief guest in the launching ceremony held in a city hotel, which was also attended by top functionaries of the country's stock market.
M Aminul Haque, Chairman of Prime Finance & Investment Ltd was present as special guest on the occasion. Moin Al Kashem, Managing Director & CEO of Prime Finance Asset Management Company Ltd delivered the welcome speech.
The Fund won't be listed with any stock exchange of Bangladesh or foreign countries. The Unit-holders can directly buy and sell units through PAMC and 16 designated selling agents.
Any individuals, institutions, provident funds, NRBs and other mutual funds are eligible to buy units of this fund.
On the opening day, individual and institutional investors bought a total of 152,100 units worth BDT 15.2 million. The subscription will remain open during the next 45 days until Tk 200 million is sold.
Minimum subscription for any individual is 50 units of BDT 100 each (BDT 5000) and institution is 1000 units of BDT 100 each (BDT 100,000). There is no maximum limit on unit purchase.
BBN/SI/AD-27Sept10-1:16 am (BST)