A company for this purpose was registered as Asset & Investment Management Services of Bangladesh Limited (popularly known as AIMS of Bangladesh) in December 1998, which emerged as the first purpose – built private asset management company of the country. Their maiden venture, AIMS First Guaranteed Mutual Fund, a closed end balanced fund, obtained approval of the SEC and was floated in March 2000. The public float was oversubscribed by eight times. The Fund was listed at the stock exchanges in May 2000 creating a landmark in the history of the capital market in Bangladesh.