UCB Asset Management Limited and Sandhani Life Insurance Company Limited have signed the trust deed of UCB Income Plus Fund, a press release said Thursday. The initial target of the fund is Tk 50 crore. Of this, UCB Asset Management has provided Tk 5 crore (10 percent of the initial size of the fund) and the rest will remain open to the general investors. The face value of the fund is Tk 10 per unit. Sandhani will act as the trustee of the fund, while UCB Asset Management will be the sponsor and asset manager. Md Mizanur Rahman, company secretary of Sandhani Life Insurance, and SM Rashedul Hasan, MD and CEO of UCB Asset Management signed the trust deed on behalf of their respective organizations recently. ATM Tahmiduzzaman, DMD and company secretary of UCB, Mohammed Rahmat Pasha, MD and CEO of UCB Stock Brokerage Limited, and Tanzim Alamgir, MD and CEO of UCB Investment Limited, were also present.
