Green Delta Dragon signs trust deed for its first fund

Green Delta Dragon Asset Management Company signed the trust deed for its first mutual fund “Green Delta Dragon Enhanced Blue Chip Growth Fund” in the capital on Sunday.

The fund is being jointly sponsored by the asset manager’s parents – Green Delta Insurance Company and Dragon Capital Markets Limited.

Bangladesh General Insurance Company Limited (BGIC) will be acting as the trustee of the fund, while Brac Bank Limited will be the custodian.

The initial size of the said fund will be Tk50 crore.

The asset manager in a statement said the objective of the fund is to outperform the benchmark DS30 return rate on an annual basis to the extent reasonably possible by focusing on select investments in the securities of market-leading companies and primary market investments in potential future market leaders.

The asset manager aims to publicly offer the fund units by the second quarter of 2023.

Dominic Scriven, chairman and co-founder of the Dragon Capital Group said, “With this sponsorship, we are ready to share our skills, experience, and resources, derived from our 30 years of experience in global investment management, and we hope to contribute these towards the development of Bangladesh capital market and its asset management industry.”

Farzanah Chowdhury, director of Green Delta Dragon said, “we believe that the Bangladesh capital market has attractive long term growth potential and the fund will be a reliable platform for creating sustainable values by bringing together local knowledge and expertise from most dynamic finance professionals along with international best practices.”

Shahbaj Talat, managing director and CEO of Green Delta Dragon, said “We believe that a strategic, long-term approach to responsible investing, by integrating ESG factors into its investment criteria, will create lasting value for GDD EBCGF, its stakeholders and the wider community”.

Green Delta Dragon is a joint-venture asset manager founded by Green Delta Insurance Company Limited, Dragon Capital Management (HK) Limited and Equinox Dhaka Limited. It is the first Asset Management Company in Bangladesh to announce

Environmental, Social and Governance (ESG) factors in the investment screening and decision-making process.

Top officials of the relevant companies were present at the signing ceremony.