Bangladesh Securities and Exchange Commission (BSEC) has recently approved the draft Trust Deed of UCB Taqwa Growth Fund, the second open-end fund, to be launched by UCB Asset Management.
The initial size of the said fund will be BDT 35 crore.
Sandhani Life Insurance Company Limited will act as the Trustee of UCB Taqwa Growth Fund. The purpose of launching the new fund is to cater to the needs of the investors seekingShariah compliant investment opportunities.
United Commercial Bank Ltd. (UCB), one of the largest first-generation private commercial banks, has recently launched its Islamic banking window ‘UCB Taqwa’ to offer best-in-class banking services with Shariahbase.
The Growth Fund will focus on earning superior risk adjusted returns by investing in high-quality growth.
UCB Asset Management conveys its gratitude to the BSEC and all the related stakeholders for their continuous support. The Asset Manager expresses its hope to go for the Initial Public Offer (IPO) of UCB Taqwa Growth Fund by the first quarter of the new year.
