Dhaka, June 13 -- Yawer Sayeed, founder and managing director of AIMS of Bangladesh Limited and a pioneering figure in Bangladesh's capital market, has died in Australia, the company has said.

A mutual fund trailblazer, Yawer passed away before dawn on Jun 13 in Gold Coast, Queensland, AIMS said in a media statement on Saturday.

He was remembered by colleagues and market participants as one of the country's most respected financial professionals.

Alongside founding AIMS, the country's first private-sector asset management company, Sayeed launched Bangladesh's first private-sector mutual fund.

Under his leadership, AIMS introduced five more mutual funds, which gained recognition among investors for their performance, transparency and r...