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Bangladesh Securities and Exchange Commission (BSEC) Directive on Foreign Company to be a sponsor of Mutual Fund.

The Bangladesh Securities and Exchange Commission (BSEC) hereby directs the foreign company or investor to comply with the following requirements in order to be a sponsor of any mutual fund:

  1. Any foreign company, either public or private, shall be eligible to be a sponsor of any mutual fund either single or jointly with any local company.
  2. Each foreign company, being a sponsor of mutual fund, either single or jointly with any local eligible sponsor, shall meet the requirements to create a trust as per the Trust Act, 1882 (Act No. 11 of 1882).
  3. No foreign company as a sponsor of mutual fund shall subscribe more than 25% of the fund size.

This directive ( No. BSEC/CMRRCD/2009-193/18– )  shall have immediate effect.

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