SEBON approves Laxmi Equity Fund mutual fund scheme worth Rs 1 arba; to float within 3 weeks

Securities Board of Nepal (SEBON) has given final approval to Laxmi Equity Fund worth Rs 1 arba. As per an official of Laxmi Capital, “The  board has just given the final nod to our mutual fund scheme, we will be publishing offer letter for the public issue within 3 weeks.” Laxmi Equity Fund is a closed-end, 7 year equity oriented scheme with fund size of Rs 1 arba. The mutual fund is managed by Laxmi Capital Market Limited and Laxmi Bank Limited is its fund sponsor. Currently, there are 10 mutual fund schemes already in the market. Laxmi Capital Market Limited has got [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal. Laxmi Bank already has its first mutual fund scheme Laxmi Value Fund – 1 (LVF1) listed in NEPSE. The fund’s net asset value (NAV) remains at Rs 11.55 as of Falgun end. Its last traded price (LTP) stands at Rs 12.15 as on April 16, 2017.