Grameen Mutual Fund One
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GRAMEEN MUTUAL FUND ONE AIMS of Bangladesh is the Asset Manager for the Grameen Mutual Fund One, the second closed-end private mutual fund in Bangladesh, the Grameen Mutual Fun d One sponsored by the Gra meen Bank, founded by No bel Laureat e Profes sor Muhammad Yunus, regarded as the innovator of micro -credi t. It was in actualization of the objectives of the visionary Professor to devise an avenue to embark in the capital markets by creating a cost-effective and dependable financial instrument for the poor clients of Grameen Bank and design a product that can bridge the vast poor with the mainstream urban economy, give them owner shi p in the leading enterpr ises, and take advantage of the growth potentials. Grameen Fund, a not-for profit venture capital financing enterprise of the Grameen family is the Trustee and the Standard Chartered Bank is the Custo di an of the fund. It is listed at the Dhaka & the Chittago ng Stoc k Exchanges. Fund Name Grameen Mutual Fund One Scheme Name 1. Grameen One 2. Grameen Two Paid up Capital: Date of listing: Grameen One : Tk 170 million Grameen Two : TK 1.25 billion 04 September 2005 Tenure: Redemption at Maturity on June 30, 2015. Face Value: Tk 10 (Taka Ten only) Market Lot: 500 units of Tk 10 each Tax Status: Investment and income, including capital gain, of the Fund is tax exempt Investment Parameter: Unlike traditional mutual funds available in Bangladesh, the Fund will invest in both equity (stock market) and fixed income securities (FIS)
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GRAMEEN MUTUAL FUND ONE
AIMS of Bangladesh is the Asset Manager for the Grameen Mutual Fund One,the second closed-end private mutual fund in Bangladesh, the Grameen MutualFund One sponsored by the Grameen Bank, founded by Nobel Laureate
Professor Muhammad Yunus, regarded as the innovator of micro-credit. It wasin actualization of the objectives of the visionary Professor to devise an avenueto embark in the capital markets by creating a cost-effective and dependablefinancial instrument for the poor clients of Grameen Bank and design a productthat can bridge the vast poor with the mainstream urban economy, give themownership in the leading enterprises, and take advantage of the growthpotentials. Grameen Fund, a not-for profit venture capital financing enterpriseof the Grameen family is the Trustee and the Standard Chartered Bank is theCustodian of the fund. It is listed at the Dhaka & the Chittagong StockExchanges.
Fund Name Grameen Mutual Fund One
Scheme Name 1. Grameen One2. Grameen Two
Paid up Capital:
Date of listing:
Grameen One : Tk 170 million
Grameen Two : TK 1.25 billion
04 September 2005
Tenure: Redemption at Maturity on June 30, 2015.
Face Value: Tk 10 (Taka Ten only)
Market Lot: 500 units of Tk 10 each
Tax Status: Investment and income, including capital gain, of the Fund is tax exempt
InvestmentParameter:
Unlike traditional mutual funds available in Bangladesh, the Fund will invest inboth equity (stock market) and fixed income securities (FIS)
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Nature & Style This team-managed all-weather Fund is a closed-end balanced mutual fund. It mostly will focus onpreservation of principal and at the same time earn moderate return for the shareholders. Because of the balanced nature, the Fund is less risky than the existing all-equity mutual funds available in themarket.
The portfolio will be a growth-value blend basket of large-cap as well as small-cap stocks and a mix of fixed income securities.
In order to increase the profit potential, the management company will have the flexibility to usemarket timing to move between stocks and Fixed Income Securities in any percentage they deemprudent when investment conditions change.
The management company will adopt both fundamental and quantitative investing approach for theFund. All investment decisions will be backed by thorough in-house fundamental and technicalresearch.
ManagerAIMS of BangladeshLimited
Asset & Investment Management Services of Bangladesh Limited, the solutionprovider in the visualization, is the Manager of the Fund. Mr. Monzurul Haque isthe Chairman and Mr. Yawer Sayeed is the Managing Director & CEO of thecompany.
SponsorsGrameen Bank Grameen Bank is the Sponsor of the ‘Grameen Mutual Fund One’. As the
Sponsor, Grameen Bank has provided an initial capital of Tk16.5 million to thefirst Scheme of the Fund. The Bank has also set the objectives and policyguidelines of the Fund through authoring and executing the Trust Deed and theInvestment ManagementAgreement.
Grameen Bank was established under the Grameen BankOrdinance, 1983, operating with an objective to alleviate povertythrough financial services, especially by providing micro-credit.Empowering poor people is the ultimate objective of the Bank.The Government of Bangladesh owns 5% of the Bank and the rest95% is held by the borrowers of the Bank. Mr. Tobarak Hossain isthe Chairman and Professor Muhammad Yunus is the founderManaging Director of the Bank. The Government nominates threedirectors including the Chairman and nine other directors areelected representatives from among the Grameen borrowers.
TrusteeGrameen Fund Grameen Fund, a venture capital undertaking of the Grameen family limited by
guarantee is the Trustee of the Fund. Established in 1994, Grameen Funddedicated itself in promoting, managing and financing various enterprises,which aims to create wealth for ultimate poverty alleviation. ProfessorMuhammad Yunus is the Chairman and Mr. Faizur Razzaque is the ManagingDirector of this non-profit company. Grameen Fund has constituted a TrusteeCommittee with Mr. Hafuzuddin Khan former Comptroller & Auditor General of Bangladesh and Advisor to the Caretaker Government and Mr. Giasuddin Ahmed
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former Managing Director of Investment Corporation of Bangladesh (ICB).
CustodianStandard CharteredBank
SCB is a British Bank operating in Bangladesh for over 50 years. They have beenproviding custodial services to foreign institutional investors. They areexperienced and skilled in this line of service.
