Mutual Fund industry, especially open-end mutual fund, is growing exponentially and gaining popularity among individual and institutional investors as it provides the benefits of efficiently structured and diversified investments with minimal risk that are managed by professional and experienced investment managers.
In the beginning of 2019, Alliance Capital Asset Management Limited (ACAML) is trusted to manage a fund named ‘Alliance Sandhani Life Unit Fund’ (formerly known as Sandhani Life Unit Fund) considering the proven successful track record in fund management. This is the first time in Bangladesh that a mutual fund is assigned to a new asset manager for managing its affairs.
Alliance Capital Asset Management Ltd is the current Asset Manager of this fund where Bangladesh General Insurance Company Limited (BGIC) is the Trustee and BRAC Bank Limited is the Custodian of the fund. M/S Hoda Vasi Chowdhury & Co. Chartered Accountants is the current auditor of the Fund.
Recently, the Asset Under Management (AUM) of the fund has stood at BDT 350 million and we are expecting that it will go up to BDT 400 million by this year.