In order to ensure maximum trust and confidence of the investors, supervisory bodies and potential investors in the fund, the Investment Corporation of Bangladesh (ICB) will act as the Trustee and Custodian of the Fund. The Investment Corporation of Bangladesh (ICB) was established on 01 October 1976, under “The Investment Corporation of Bangladesh” Ordinance, 1976 (No. XL of 1976) to encourage and broaden the base of investment, develop the capital market, mobilize savings, promote and establish subsidiaries for business development and provide for matters ancillary thereto. Over the years, the activities of ICB have grown manifold, particularly in Merchant Banking, Mutual Funds operations and stock brokerage activities. ICB is the biggest investment bank and the harbinger of mutual fund industry in the country. Out of country’s 17 (seventeen) closed-end mutual funds, ICB and its subsidiary manage 13 (thirteen) mutual funds. As of May 2009, ICB has acted as Trustee to the 11 debenture issuances involving Tk. 155.95 crore, issues of 8 bond issuances involving Tk. 817 crore. ICB also performed the responsibilities of trustee and custodian to 9 closed-end mutual funds of Tk. 475 crore and 2 open-end mutual funds with initial capital of Tk. 40 crore.
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