Citizen Mutual Fund reports NAV of Rs 9.98; Fund bears net loss of Rs 16.45 lakh

Citizen Mutual Fund, a 7 years close ended mutual fund has published its monthly report for the first time for the month of Falgun. The mutual fund is the first mutual fund of CBIL Capital. The fund is managed by CBIL Capital with Citizens Bank International as the fund sponsor. The mutual fund has reported Net Assets Value (NAV) of Rs 9.98, which is below the par value of Rs 10. The fund was opened for Rs 1 arba but due to undersubscription, the fund amounts to Rs 82 crore. The mutual fund has not invested in any listed shares and it has invested Rs 1.11 lakh in the public issues, right shares and bonus shares. The fund reported a net loss of Rs 16.45 lakh as on Falgun end. 17,277 applicants were allotted the demanded units of the mutual funds shares on Falgun 20, 2074. Report