UCB Income Plus Fund, a fixed-income open-end mutual fund managed by UCB Asset Management, has crossed BDT 500 crore in size, growing tenfold from its initial BDT 50 crore since its July 2023 launch. This is a rare feat, as this kind of scalability has not happened in the past 15 years.
From 50 crore to 500+ crore in just three years and three months, the milestone reflects growing investor confidence in open-ended mutual funds floated by credible asset managers.
Established in 2020, UCB Asset Management has become Bangladesh's fastest-growing asset management company, and UCB Income Plus Fund has become the largest mutual fund managed by a private asset management company. Only two open-end funds managed by ICB currently have higher assets under management.
The achievement reflects the collective contribution of UCB Asset Management's investors, team, regulators, and fellow asset managers. Managing a mark-to-market fixed income fund through a volatile interest rate cycle presented significant challenges.
At the same time, continued investor confidence played a key role in sustaining the fund's performance and supporting its growth at scale.
The milestone was celebrated in the presence of Mr Sharif Zahir, UCB PLC Chairman; Mr Mohammad Mamdudur Rashid, Chief Executive Officer, UCB PLC; and Mr Nabil Mustafizur Rahman, Chairman, UCB Asset Management; along with the Directors of the bank's board.
Financial Mirror/AH
