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 Green light to Reliance mutual fund

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Posts : 98
Join date : 2010-05-25

PostSubject: Green light to Reliance mutual fund   Sun Jun 06, 2010 10:54 pm

Bss, Dhaka

AIMS of Bangladesh has received Securities and Exchange Commission's approval to launch the Reliance Insurance Mutual Fund.

The approval, which came last week, now paves the way for Reliance Insurance to go ahead with its mutual fund proposal.

Bangladesh General Insurance Company Ltd and Standard Chartered Bank will be the fund's trustee and custodian.

According to AIMS, it is a multi-scheme mutual fund, where the first scheme would be a Tk 55 crore closed-end balanced growth fund.

The mutual fund is likely to be launched in the second half of this year.
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