Sunrise First Mutual Fund opens from tomorrow; Projected average annual return and dividend of 24.29% and 14% respectively
Tue, Sep 24, 2019 3:25 PM on Mutual Fund, Stock Market, Featured,
Sunrise First Mutual Fund (SFMF) will open its issue from tomorrow i.e Ashwin 08, 2076. The issue will remain open till Kartik 07, 2076.
SFMF is a close-ended growth scheme with an aim to generate medium to long-term capital gains for investors and to facilitate income distribution while focusing on capital appreciation.
The Mutual Fund with 10 years maturity period is being sponsored by Sunrise Bank Limited and managed by Sunrise Capital Limited. The fund size of the scheme is Rs 1 arba with provision to increase by 25% is the issue is oversubscribed.
Interested individuals can apply for a minimum of 100 units or a maximum of 1 crore units. CARE Nepal has assigned CARE-NP A (Is) rating to Sunrise Bank and CARE-NP AMC Quality 3 to Sunrise Capital.
Speaking at a program today, CEO of Sunrise Capital, Mr. Bijay Lal Shrestha, informed that the projected average annual return of the fund is 24.29% with average annual dividend distribution of 14%.
The supervisors of the fund are:
- Mr. Chandi Prasad Shrestha - Ex. Home Secretary and 28 years'experience in high level government services
- Mr. KB Manandhar - Ex. Deputy Governor with 36 years' experience in NRB
- Mr. Buddhi Prasad Acharya - Ex. MD at NTC with 18 years' experience in Audit firms and NTC
- Mr. Purna Man Shakya - Senior Advocate and Professor with 30 years' work experience as a Professor and Advocate
- Mr. Sudhir Kumar Sharma - CA with 20 years' experience in various BFIs
Highlighting the diversity of fields that the spervisors come from, Chairman of Sunrise Capital, Mr. Appach Kumar Yadav, expressed that, "While others are looking for supervisors who are easy to work with, we have chosen experts from different fields who will be complementing each other for effective supervision of the Fund."
