The public subscription of Midland Bank Growth Fund has closed successfully with participation from institutional and individual investors, according to a press release.
The open-ended mutual fund managed by Midland Bank Asset Management Company Limited, launched with a target initial size of Tk25 crore, received Tk2.5 crore from sponsor Midland Bank PLC, while the remaining amount was raised through public subscription.
The Bangladesh Securities and Exchange Commission earlier approved the fund’s prospectus under the Mutual Fund Rules.
Midland Bank Asset Management Company is acting as the asset manager, Sandhani Life Insurance Company is serving as trustee and Commercial Bank of Ceylon PLC is acting as custodian.
The face value of each unit has been set at Tk10.
Following the closure of the initial subscription, investors will be able to buy and surrender units at the prevailing net asset value in accordance with applicable regulations.
According to the fund manager, the Midland Bank Growth Fund aims to achieve long-term capital appreciation through investment in fundamentally strong listed shares, government securities, money market instruments and other approved financial assets.
The fund plans to follow a research-based investment strategy focused on sustainable growth, portfolio diversification and prudent risk management.
Midland Bank Asset Management Company CEO Mohammad Samir Uddin said the successful closure reflects growing investor confidence in professionally managed investment products and the long-term prospects of Bangladesh’s capital market.
He said the company remains committed to maintaining high standards of professionalism, governance and transparency while creating long-term value for investors through disciplined investment management.
Midland Bank Asset Management Company provides mutual fund management, portfolio management and corporate advisory services in Bangladesh.
