BM Desk:
Prime Bank Investment Limited (PBIL) 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 Mustaq Ahmed, Chairman of PBIL, along with Syed M. Omar Tayub, the Managing Director and CEO of the company, and other senior management members.
Its mother company, Prime Bank Limited, claimed that the 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 they 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 thousands of new investors to the 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 an account at PrimeInvest online from anywhere, sitting at ease at their home or workplace.
PrimeInvest aims to offer tailored investment products aligned with investors’ financial goals and 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 lumpsum investment of BDT 5 lacs for a 3-year tenure, while the Monthly Investment Plan starts with a minimum monthly investment of BDT 3,000, promoting consistent investing and compounding benefits. Equity sharing is the joint investment of the client and PBIL on a 70:30 basis, where profit and loss will be shared on that ratio. The Capital Protected Scheme guarantees the protection of 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 under the direct supervision of PBIL’s Investment Management Committee.
PBIL Chairman Mr. Mustaq Ahmed stated “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 Omar Tayub, Managing Director and 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 expectations of client groups. PrimeInvest will foster access to investment for general investors, as many of them shy away from the capital market due to the time and effort that are required for successful investment. Through the 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.”
