IDLC makes stock investment simpler

Investment in the stockmarket is no longer costly, complicated and time-consuming, especially for those who do not want to take risks or have lesser understanding of the capital market.

There is now an affordable and simple way to invest, as IDLC Investments has come up with a new product for small savers.

The product, Easy Invest, offers an individual to deposit a minimum Tk 3,000 monthly and IDLC will do the share business in a structured way, which reduces the risks because of costs averaging over a long time horizon.

“This is the first of its kind in Bangladesh,” IDLC officials said, adding that it will be launched formally at a programme in Dhaka on Tuesday.

“We want that people who hardly understand the capital market will deposit their small amounts with us every month and our professional management team on behalf of the customers will manage the accounts,” said Arif Khan, managing director of IDLC Finance, the parent company of IDLC Investments.

Easy Invest is a discretionary portfolio management product that will build a portfolio over time, with small investments at regular intervals.

As a fund manager, IDLC will follow a disciplined and structured investment process, and reduce the risk of market volatility.

“Such kinds of products are very popular in India, where they term it systematic investment plan,” Khan said.

The tenures of the product are three years, five years and 10 years.

With the monthly investment plan an individual will get rebate on income tax and tax exemption on capital gain.

Easy Invest is also offering 'accidental death' and 'accidental insurance' coverage of up to Tk 1 lakh per year. An 'auto debit' instruction facility eliminates the need for physical submission of cheques or cash.

IDLC Finance has been in Bangladesh for the last 30 years, with a strong presence in the capital market for more than 17 years.

IDLC Investments, completely owned by IDLC Finance, is a premier brand for investment banking in Bangladesh. It has been offering discretionary portfolio management services to its clients for the last nine years with a strong track record.