Prime Bank Investment Limited (PBIL), a full-fledged investment bank and a wholly owned subsidiary of Prime Bank Limited, launched PrimeInvest a comprehensive discretionary product suite that aims to foster access to investment for individual and institutional investors.
The product was launched at a ceremony held at its head office located at Tajwar Center, Banani in the presence of CQK Mustaq Ahmed, chairman of PBIL, along with Syed M Omar Tayub, managing director & CEO of the company, and other senior management members.
This is for the first time in Bangladesh, an investment bank is introducing a complete range of discretionary products under the unified brand umbrella of PrimeInvest which is designed to meet the wealth management needs of general investors be it individual, institutional or registered funds.
As this is a discretionary product suite, PBIL will have the consent of customers to invest their money strategically in line with the underlying risk and return expectations of each of the five products under PrimeInvest. Through PrimeInvest, PBIL aims to bring in thousands of new investors to capital market which has so far not been able to create new customers compared to the very large customer base as can be seen in the money market or in MFS accounts.
Moreover, investors can open account in PrimeInvest online from anywhere sitting at ease at their home or workplace. PrimeInvest aims to offer tailored investment products aligned with investors’ financial goals/return expectations, risk appetite, age, and occupation. It presents various options such as Wealth Maximizer, Monthly Investment Plan, Capital Protected Scheme, Equity Sharing and Performance Scheme.
Wealth Maximizer requires a minimum token investment of Tk5 Lakh for a 3-year tenure, while the Monthly Investment Plan starts with a minimum monthly investment of Tk3,000, promoting consistent investing and compounding benefits.
Equity Sharing is the joint investment of client and PBIL on a 70:30 basis, where profit and losses will be shared on that ratio.
The Capital Protected Scheme guarantees the protection on the invested capital, and the Performance Scheme allows PBIL to retain a portion of the profits while it strives to maximize the return.
All PrimeInvest products are designed to provide investors with substantial returns while offsetting inflation. To build a robust operation, the discretionary fund will be managed through the direct supervision of PBIL’s Investment Management Committee.
CQK Mustaq Ahmed, chairman of PBIL, said: “The introduction of our innovative discretionary portfolio management products is evidence of our commitment to innovation and to giving our customers the best possible service in their capital market investment”.
Syed M Omar Tayub, managing director & CEO of PBIL, said: “Primeinvest discretionary product suite will be a game-changer in the capital market investment arena of Bangladesh, as for the first time an Investment Bank like PBIL is coming up with such a comprehensive approach that aims to create and manage wealth for both individual and institutional investors.”
“The objective will be achieved through a methodical investment approach tailored in line with the broader risk appetite and return expectation of client groups. PrimeInvest will foster access to investment for general investors as many of them shy away from capital market due to the time and effort that are required for successful investment. Through PrimeInvest product suite, PBIL aspires to solve this problem by creating a sense of reassurance for thousands of potential investors through its years of expertise,” Tayub added.