Trust deed signing ceremony of CMSF’s Golden Jubilee Mutual Fund held 

Capital Market Stabilization Fund (CMSF) is in the process of adding a new Closed-end mutual fund named "ICB AMCL CMSF Golden Jubilee Mutual Fund" to its portfolio. 

CMSF is in close partnership with relevant entities and completing all the formalities that are required to operationalise this closed-end mutual fund. 

Recently, it has obtained a very crucial approval from the Bangladesh Securities and Exchange Commission (BSEC) in respect of the approval of a trust deed and investment management agreement on 31 March.

A trust deed signing ceremony was held at the Investment Corporation of Bangladesh's (ICB) head office in Dhaka on Monday in this regard.

Md Monowar Hossain, chief of operation of CMSF, with ATM Ahmedur Rahman, CEO of CB Asset Management Company Ltd, represented their respective organisations in the signing programme.

According to an official press release issued in this regard, CMSF is the sponsor and ICB AMCL is the fund manager of the "ICB AMCL CMSF Golden Jubilee Mutual Fund" while Bangladesh General Insurance Company (BGIC) will act as the trustee and Brac Bank Limited will act as the custodian of the fund.

The fund is worth Tk100 crores. It is also a closed-end mutual fund with a Unit Face Value of Tk10.

Professor Dr Mohammad Tareq, chairman of the Golden Jubilee Mutual Fund Committee of CMSF, stated that this fund will help the market to stabilise by investing in potential shares. 

Abul Hossain, MD of ICB, expressed his optimism that there will be 100% subscription to this fund. He stated that if this fund becomes successful, it will reduce the uncertainty among the investors about closed-end mutual funds. 

He expressed his belief that with the reputation and experience of Nojibur Rahman, Chairman, CMSF, the fund will be successful and it will create positive vibration and boosting up the confidence of investors in the mutual fund.

Md. Monowar Hossain, FCA, FCMA, chief of operation, CMSF, expressed his optimism that this mutual fund will contribute a lot to stabilise the market and he emphasised the significant contribution of the relevant entities.

CMSF Chairman Md Nojibur Rahman expressed hope and belief in the potential of the investor-friendly framework for the mutual fund.

He stated that it is a good initiative by BSEC to increase the standard quality of the capital market and this fund is dedicated to the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman and to commemorate the Glorious Golden Jubilee of our independence and Mujib Year.

This fund will protect the interest of small investors and will be a role model for mutual funds, he added.

Md Nojibur Rahman, Chairman, Capital Market Stabilization Fund (CMSF), and Dr Mohammad Tareq, Professor, AIS, DU, Independent Director, CCBL and Board of Governors, CMSF and  Md Abul Hossain, Managing Director of Investment Corporation of Bangladesh (ICB) and Ahmed Saifuddin Chowdhury Minto, MBA MD and CEO of Bangladesh General Insurance Company (BGIC); representatives of Brac Bank Limited and CMSF officials also attended the event.