UCB Income Plus Fund, a fixed income open-end mutual fund managed by UCB Asset Management, has crossed Tk500 crore in size, growing tenfold from its initial Tk50 crore since its launch in July 2023.
The fund reached the milestone in three years and three months, UCB Asset Management in a press release on Tuesday claimed this.
The milestone was celebrated recently in the presence of UCB PLC Chairman Sharif Zahir, CEO Mohammad Mamdudur Rashid, UCB Asset Management Chairman Nabil Mustafizur Rahman and UCB Asset Management MD and CEO Shekh Mohammad Rashedul Hasan.
Directors of UCB board and senior management were also present.
UCB Asset Management, established in 2020, manages the fund. The company in the press release said managing a mark-to-market fixed income fund through a volatile interest rate cycle presented significant challenges, while investor confidence supported the fund’s growth.
