Kathmandu, September 8

Nabil Mutual Fund has announced its second scheme — Nabil Equity Fund (NEF).

It is a close ended scheme with a maturity period of seven years and corpus amount of Rs one billion, as per a media release.

The objective of the scheme is to invest mainly in equity and equity related instruments followed by certain investments in fixed income instruments as allowed by prevailing rules and regulations on mutual fund for stable returns to its unit holders. For liquidity purpose, the units under NEF shall be listed in Nepal Stock Exchange (Nepse) and can be traded like any other securities listed in Nepse till maturity of the instrument.

The issue will open on September 18, with an early closure option of September 22 in case of over-subscription. Small, medium and large investors can invest in the mutual fund, as per the release with minimum investment amount set at Rs 1,000 and maximum investment of Rs 100 million.

Earlier Nabil Mutual Fund had introduced Nabil Balanced Fund-I. It has a net assets value of Rs 29.45 per unit as of September 2; trading at stock exchange at Rs 25 per unit as of September 7 and has paid 14 per cent cash dividend each in the last two fiscal years, as per release.