Another scheme in the offing, Laxmi Capital is issuing Rs 40 crores (Laxmi Value Fund) soon

Tue, Jul 23, 2013 12:00 AM on IPO/FPO News, Mutual Fund,

ShareSansar, July 22:

Laxmi Capital, a subsidiary of Laxmi Bank Limited is all set to issue Rs.40 crore mutual fund scheme named Laxmi Value Fund within this Bhadra.

Laxmi Capital has got licensed of mutual fund from SEBON on last Bhadra, 2069.

As per the existing rules, a mutual fund company must launched its scheme within one year of receiving approval from Securities and Exchange Board of Nepal (SEBON), the market regulator.

As the one year time-frame for Laxmi Capital will expire at the end of the next month, Laxmi Capital must launch the scheme before Bhadra 2070.

As per the company sources, Laxmi Capital is floating a closed end scheme worth Rs.40 crore with a maturity period of five years.

The Asset Management Company for the scheme is Laxmi Capital and the fund sponsor is Laxmi Bank Limited. The supervisor for this scheme is also been appointed.

Once it comes into operation, Laxmi Capital will be the third mutual fund company after Nabil Investment and Siddhartha Capital to issue such scheme.

It will take a week of time probably, for this scheme to get approval from the Sebon.

With this and many others, the capital market will definitely get some boost in the coming days ahead.