Self-Directed (No Loan will be provided under this category)
It’s a fully non-discretionary portfolio account where the accountholder shall have NO option to avail margin loan facility. The investors will operate his account at his own discretion. Portfolio Manager will act only according to the client instruction and ensure all management services related to maintaining the account. Nothing shall bind portfolio manager to any consequences resulted from any decision made by the Account holder, under this scheme
Eligibility to open the Account
Any Bangladeshi over 18 years of age is eligible to open an account under Prime Invest program. Every two persons can open maximum of three Self-Directed Accounts — two in their individual name and the other in joint name.
- Any Client may choose to open an Account from the different types of products/services under Prime Invest program to invest in securities.
- Client has to sign an Agreement with the portfolio manager. The portfolio manager shall carryout operation as per agreement.
- The client shall have absolute discretionary power to make investment decisions and may from time to time instruct portfolio manager to execute such investment decision(s) for and on his behalf.
- The client shall be eligible to purchase any securities from the primary/secondary market.
- An individual client shall be allowed to appoint 1 person to act on his behalf.
- An institutional client shall be allowed to appoint maximum 3 persons to act jointly or individually on its behalf.
- The Client shall give "Power of Attorney" to the portfolio manager to perform portfolio management activities as per direction/instruction of the client.
- The portfolio manager will ensure custodian service, brokering service, and all other services required to manage portfolio of the clients.
- Portfolio manager will maintain clients’ funds and securities through product wise separate omnibus account.
- Portfolio manager shall maintain records of all individual clients separately.
- The client shall have the option to avail “assisted service” facility from the portfolio manager on payment of service charges.
- The client shall also have the option to avail different value added services from the portfolio manager on payment of service charge.
- The client will be allowed to withdraw fund from the account keeping retention amount after deduction of all dues/charges.
- Portfolio manager will ensure all corporate entitlements of the clients and timely collection of the same.
- The portfolio manager is entitled to recover various charges and fees from the Investor as agreed by both parties including brokerage on buy and sale value of securities, necessary stamp duty and other expenses for transfer of securities, portfolio fees and other relevant charges as shown in the financial account of the Investor.
- For NITA account transaction will only be executed upon receipt of written instruction. Electronic communication is allowed but client should submit written order within 72 hours by means of electronic confirmation. No telephonic order will be executed unless any written instruction through fax or e-mail is received. A tripartite agreement will be signed among the Investors, Branch (Commercial Bank) and Portfolio Manager. Investors must be open a Non Residential Investor’s Taka Account (NITA) with any of our branch having Authorized Dealer (AD) license from Bangladesh Bank. Regarding fund transfer investor will instruct Branch and Portfolio Manager simultaneously and in case of security trading investor will communicate the message to the Portfolio Manager only.