10 Crore Units of Prabhu Smart Fund Now Listed in NEPSE

10 Crore units of Prabhu Smart Fund (PSMF) have been listed in NEPSE.

"Prabhu Smart Fund (PSMF)" is a closed-end fund. It has a maturity period of 10 years. The close-ended mutual fund issued 8 crore units of which 14% i.e. 1.12 crore units worth Rs. 11.2 crores were allocated to the fund promoter Prabhu Bank Limited whereas 1% of the total units i.e. 8 lakh units were allocated to the fund manager Prabhu Capital Limited. Thus, the remaining 6.80 crore units were for the public issue. However, the fund has now been resized to 10 crore units due to oversubscription, making the total size of the fund to be Rs. 1 Arba.

The NAV of the fund for the month of Baisakh stands at Rs. 10.