PrimeInvest: Gateway to new possibilities in the investment market

Prime Bank Investment Ltd (PBIL), a subsidiary of Prime Bank, has recently launched PrimeInvest, a comprehensive discretionary product suite that aims to foster access to investment for individuals and institutional investors.

CQK Mustaq Ahmed, chairman of PBIL, inaugurated the product at its head office in Banani in the capital, said a press release.

"Through these schemes, we want to bring new investors into the market. We are committed to providing the best services to all types of investors through our bank's discretionary portfolio management services," said Mustaq Ahmed, chairman of PBIL.

"Prime Invest is a groundbreaking step in Bangladesh's capital market. For the first time, investors can explore five different types of investment opportunities under a specific brand. We aspire to motivate individuals and institutional investors to participate in the capital market, ensuring planned investments with balanced risks and promising returns," Prime Bank Investment Managing Director and CEO Syed M Omar Tayub said.

PrimeInvest has introduced five different investment schemes based on the investor's age, profession, income, and risk-taking capacity. This initiative marks the first of its kind in the country's investment history.

Considering the convenience of investors, PrimeInvest offers monthly investments starting from Tk3,000 and opportunities for both short-term and long-term investments, read a press release.

PrimeInvest aims to create an accessible and attractive investment avenue in the capital's financial landscape. With a focus on investor convenience, PrimeInvest emphasises the complete digitization of the investment management process. 

This digitization includes the use of online platforms for investment, online account opening from home, fund transfers via auto-debit/electronic fund transfer, access to account statements, issuance of tax certificates, and various other services.

According to a press release, Investors can easily manage their investments and access financial services from the comfort of their homes. Prime Invest ensures proper management of invested funds through an active Investment Management Committee within the organization.

The PrimeInvest products

Wealth Maximizer: Investors can deposit at least Tk5 lakh for a tenure of three, five or seven years. PBIL will skillfully invest the money into growth stocks to maximise long-term return. PBIL will charge 1% of the fund under management as annual fees. 

Monthly Investment Plan: An investor who can save at least Tk3,000 a month, may deposit the amount or more every month for 3-10 years. The PBIL team will work to prove the power of the penny-pinching approach of long-term investment in fundamentally sound stocks.

With a decent double-digit annual average return, the forced savings may emerge as a large sum ultimately. PBIL will charge 2% of the total sum as annual fees. 

Capital Protected Scheme: This product for risk-averse investors guarantees the return of the deposited capital at least even if the investment manager incurs losses. 

An investor will have to deposit at least Tk10 lakh for five years and all the positive returns will be given to the investor after the tenure. PBIL will charge 2.5% of the total sum as annual management fees. 

Equity Sharing Scheme: To prove the commitment to maximum efforts to ensure the best outcome for their clients, PBIL will invest 30% and the client will invest 70% of the size of an investment account. PBIL and the client will proportionately share the profits or losses. 

An investor can deposit at least Tk5 lakh for three, five or seven years under the scheme. The investment manager will charge 1.5% annual management fees. 

Performance Scheme: Another bold move by the investment bank. It will charge 20% of the annual profit as performance fees. 

If there is no profit in a year, PBIL will not have any fee. Even if, the profit is less than the previous year, the investment bank will take no fee for the year.