NMB Capital’s open-end fund, “NMB Saral Bachat Fund-E,” has received further approval from SEBON for 10 crore units.
On Baisakh 19, 2080, the Securities Board of Nepal (SEBON) authorised the sale of extra units of NMB Capital’s open-end mutual fund scheme, “NMB Saral Bachat Fund-E.”
Since “NMB Saral Bachat Fund-E” is an open-end fund, NEPSE will not be the place where it is traded. There is no set maturity date for the fund, and the fund manager is free to increase the mutual fund’s size as needed.
Prior to this, NMB Capital issued 4 crore units, or 40% of the entire 10 crore units, or Rs. 1 Arba, in the first phase. NMB Bank, the fund’s promoter, received 14% of the total, or 1.4 crore units, and NMB Capital, 1%.
Only 2.5 crore units were thus available for public issues during that initial stage. The fund has a value of Rs. 88.24 Crores as of the end of Chaitra. The fund will now issue an extra 10 crore units, or 1 Arba, in the future.
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