Dhaka, Jan. 15 -- The trustee shall act on behalf of and in the "exclusive interest of investors" as obliged by the trust deed and law, reads an agreement signed by Sandhani Life Insurance and fund manager Universal Financial Solutions (UFS).

More than one and a half years after the trust deed was signed, investor National Bank Ltd (NBL) made a complaint that it has failed to get any report on the utilization of its investment from the fund manager UFS and the trustee Sandhani Life Insurance.

The managing director of the UFS, Syed Hamza Alamgir recently made news for having fled the country with Tk 1.58 billion from four unit funds that were under the supervision of state-run Investment Corporation of Bangladesh. The two other funds whe...