Custodial service agreement signed between UCB Asset Management and Brac Bank

The Custodian Agreement Signing of UCB Income Plus Fund was signed between UCB Asset Management and Brac Bank.

The signing ceremony was held on Sunday (12 March) at the headquarters of Brac Bank.

The agreement will enable Brac Bank to provide custodial services for "UCB Income Plus Fund", a stable income open-end fund with an initial size of Tk50.0 crore.

UCB Income Plus Fund offers several unique features designed to benefit retail savers, specially for those who have hit their Sanchaypatra quota and who seek investment tax rebate.

Stable short-term returns, allowing partial capital withdrawal with profit and the small investment size (min Tk5000) options in government treasuries and corporate bonds make this fund an attractive choice for retail savers seeking maximum tax rebates.

Tareq Refat Ullah Khan, DMD and head of Corporate Banking at Brac Bank, and SM Rashedul Hasan, managing director and CEO of UCB Asset Management, signed the agreement on behalf of their respective organisations.

Md Jabedul Alam, head of Transaction Banking, Corporate Banking Division; Ishrat Jahan, head of Operation, Cards Operations; Khan Muhammad Faisol, senior manager, Transaction Banking; Md Azmul Hasan Jahid, associate relationship manager, Transaction Banking of BRAC Bank; SM Samiuzzaman, CFA, Portfolio Manager and Rakibul Islam, associate manager, Operations and Compliance of UCB Asset Management were also present at the ceremony along with other officials of both the organisations.