Siddhartha Capital to issue Mutual Fund worth Rs 1.20 Billion

October 2: Siddhartha Capital is preparing to issue “Siddhartha Equity Fund” mutual fund worth Rs 1.20 billion. The company has submitted application to Securities Board of Nepal (SEBON) in order to issue 120 million mutual fund units on September 20.

Siddhartha Capital has already issued two mutual fund schemes in the market. According to the recently published financial statement,  the per unit NAV of Siddhartha Investment Growth Scheme (SIGS) -1 for the month of mid August- mid September stand at Rs 30.08. Similarly, the per unit NAV of Siddhartha Equity Oriented Scheme for the month of mid August- mid September stand at Rs 16.88.

Along with Siddhartha Capital, NIBL Capital Market and Laxmi Capital Market are also preparing to issue mutual fund units. NIBL Capital Market is planning to issue NIBL Pragati Fund Scheme for which it had submitted application to SEBON on May 16. The company is issuing mutual fund units worth Rs 600 million.

Similarly, Laxmi Capital Market had submitted application to SEBON in order to issue Laxmi Value Fund Scheme worth Rs 1 billion on June 13. Meanwhile, SEBON informed of providing remarks on the mutual fund applications to the respective companies.