Golden Jubilee mutual fund of CMSF dedicated to Bangabandhu

 
Capital Market Stabili-zation Fund (CMSF) has been established by the Bangladesh Securities and Exchange Commission (BSEC) under the BSEC (Capital Market Stabilization Fund) Rules, 2021. CMSF is preparing to undertake many innovative approaches. One of the innovative approaches has been the decision to launch of Golden Jubilee Mutual Fund to create positive vibration in the Capital Market in Bangladesh. The fund is dedicated to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and to commemorate the Glorious Golden Jubilee of Bangladesh's Independence Day and Mujib Borsho.  The name of the fund is "ICB AMCL CMSF Golden Jubilee Mutual Fund". The size of the fund is BDT 100 crores, a closed-end Mutual Fund with Unit Face Value of BDT 10.

 ICB AMCL as the 'Fund Manager', BRAC Bank Limited as the 'Custodian' and BGIC as the 'Trustee' of the Fund."The management of this mutual fund has been designed in such a way that the fund would never decrease rather increase gradually. So, investors can expect good returns," the BSEC Chairman Professor Shibli Rubayat Ul Islam said. He further said in a CMSF program that mutual funds play the biggest role in the stock market all over the world and the commission is working to boost the enthusiasm of the general public towards the mutual funds of the country.

BSEC has approved the draft Trust Deed and Investment Management Agreement of 'ICB AMCL CMSF Golden Jubilee Mutual Fund' on the last day of historic month March.

As per the Rule, CMSF acts as a custodian of cash and stocks in favor of the investors as received by transferring unclaimed and undistributed cash or stock dividend, non-refunded public subscription money, and un-allotted rights shares from the issuer of listed securities. Cash or stock deposited in the fund will be paid or settled on due claims by the shareholders or investors at any time. The CMSF will be utilized to stabilize the capital market ensuring liquidity to the market by buying and selling of listed securities, making investment in other securities, providing loan to market intermediaries, lending and borrowing of listed securities and settlement of investors' claims.

The Chairman CMSF extended heartiest thanks to the BSEC Chairman Professor Shibli Rubayat-Ul- Islam and other Commissioners for showing extraordinary leadership for creating opportunities in making the dream of commencing the Golden Jubilee Mutual Fund (GJMF) a reality.  We shall have to work in a concerted manner in the days ahead to bring about benefits to our investors, the Chairman CMSF added.