NEW YORK, AMSTERDAM, LONDON and DHAKA, Bangladesh, Sept. 22, 2011 /PRNewswire-AsiaNet/ –
TIMCO (Investment Manager) announces the launch of The Bangladesh Fund, offering global investors access to the Equity (DSE-Dhaka Stock Exchange) and Fixed Income markets of Bangladesh. The Fund will provide an actively traded top-down risk managed portfolio of equities, credit instruments and selected pre-IPOs and will benefit from the unrivalled knowledge and expertise in the Bangladesh market of the Fund’s senior management, supported by a team of professionals in new offices in Dhaka.
Bangladesh has been one of the fastest growing economies in the world with GDP growth consistently above 5% since 1990, with growth currently around 7%. The strong fundamentals of the economy are reflected by both Moody’s and S&P recently raising the rating on the sovereign debt of Bangladesh to BB-, above many of its regional rivals. The DSE Index has averaged a year on year increase of 20%+ over the past 5 years and became part of the MSCI Frontier Index in 2010.
Maruf H. Khan-Noorpuri, CEO of TIMCO commented, “The Bangladesh Fund represents a unique opportunity for investors to gain access to a Frontier Market that has not only performed exceptionally strongly, but has also been uncorrelated to markets around the world. I believe this growth will continue and that now is the perfect time for investors to take advantage of the significant potential upsides in the coming years.”
The Bangladesh Fund is the latest venture of Wall Street veteran, Maruf H. Khan Noorpuri, successful CTA and Bangladeshi national. Also on the Advisory Board of the Fund are Admiral M. H. Khan and Mr. Anwar Ul Amin. Completing the team are Eric Kugler in New York and Mark Taylor in London.
CONTACT: Dhaka – Maruf H. Khan Noorpuri
New York – Eric Kugler
or London – Mark Taylor