Nepal Investment Bank Limited (NIBL) has received the go-ahead from the Securities Board of Nepal (Sebon) to launch its first mutual fund scheme named NIBL Samriddhi Fund-1. The proposal was approved on November 16. NIBL Samriddhi Fund-1 is a closed-end balanced scheme fund. Its investment objective is to generate maximum returns by investing in a mix of securities comprising of equity, equity-related instruments and fixed income instruments as allowed by the prevailing rules and regulations on mutual funds. The maturity period of the fund is seven years from the date of allotment, the bank said in a press statement. The corpus of the scheme is Rs 800 million and the amount may reach Rs 1 billion if oversubscribed as allowed by the prevailing regulation on mutual funds. The price per unit is Rs 10. Investors can apply for a minimum of 100 units and a maximum of 800,000 units.
The issue will open on December 3 and close on December 7 at the earliest if fully subscribed, the bank said. Forms for the mutual fund can be obtained and submitted at all branches of NIBL and also at NIBL Capital Markets at Lazimpat, Kathmandu.
source: the kathmandu post, 22 nov 2014
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The issue will open on December 3 and close on December 7 at the earliest if fully subscribed, the bank said. Forms for the mutual fund can be obtained and submitted at all branches of NIBL and also at NIBL Capital Markets at Lazimpat, Kathmandu.
source: the kathmandu post, 22 nov 2014
LINK
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