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Shakib, Niaz Morshed join fund manager LR Global as advisers

  • Staff Correspondent,
    Published: 2021-09-12 20:43:00 BdST

Cricketer Shakib Al Hasan and chess player Niaz Morshed – two of the top sportsmen of Bangladesh - have joined LR Global, a leading capital market fund manager.

Niaz, the first Grandmaster of Bangladesh and South Asia, and Shakib, the top all-rounder of the world, will work as adviser at LR Global.

Both sportsmen are excited about joining one of the top fund managers of the stock market.

“I feel great to work with LR Global. I hope we will be able to do many things together in future,” said Shakib.   

Comparing the job of a fund manager with that of a chess player, Niaz said, “You need to play in an orderly manner, keep counts. Many manage funds like poker game in Bangladesh. But LR Global does the job in an orderly fashion and gives the investors good dividends.”        

Besides Shakib and Niaz, sports journalist Rezaur Rahman Sohag joined LR Global’s council of advisers.

Its CEO Reaz Islam introduced the new advisers at a press conference at a hotel in Dhaka’s Gulshan on Saturday night.

“We’ve formed an extraordinary team to do better in future,” he said. “Among them, Niaz Morshed is my friend and sports journalist Rezaur Rahman Sohag has been working with us for some time. Today, the top cricketer of Bangladesh, Shakib Al Hasan has joined us.”    

LR Global shared some of its activities of the past decade in Bangladesh at the event.

The firm manages funds worth Tk 10 billion in Bangladesh. In the stock market, LR Global manages six mutual funds, most of which are doing well, according to Reaz.

“We provided the investors with better dividends than the other fund managers of Bangladesh although we went through hard times after the 2010 stock market crash following our launch.”   

“Now the good times have come. We hope we will do two times as much good in the next 10 years as we did in the past decade.”

Reaz said LR Global wants to work in investment education in the next 10 years. It is also interested in working for the development of bond market and private equity.