Deadline of Kumari Equity Fund Extended; More than Half of the Fund Already Subscribed

Tue, Mar 2, 2021 10:45 AM on Latest, Mutual Fund,

Kumari Capital Limited has been issuing 6.80 crore unit Kumari Equity Fund to the general public from Falgun 14, 2077. Although the early closing date was today, i.e. on Falgun 18, the deadline has been extended till Falgun 28 since the issue is not yet fully subscribed.

Out of the total Rs 80 crore worth of close-ended mutual fund, the issue manager will allocate 1.20 crore unit mutual fund to the sponsor institution i.e. Kumari bank and the rest has been issued to the general public.

The mutual fund will be managed by experienced fund managers Mr. Surya Prasad Koirala, Mr. Bharat Raj Pokhrel, Mr. Krishna Prasad Gyawali, Mr. Navraj Burlakoti, and Mr. Prajit Timalsina. The fund managers have projected to maintain the NAV of 22.49 by the time the fund is matured and projects to provide 22% average yearly returns, as per the media statement.

Interested investors can apply for a minimum of 100 unit mutual funds to a maximum of 80 lakh units from Falgun 14, 28, 2077. As per the merchant bank, 49,550 applicants have applied for the units of the mutual fund within 2 days. Thus, more than half of the fund is already subscribed.