‘Laxmi Value Fund-1’ to be opened from today; Golden opportunity for small investors

ShareSansar, February 12:

Laxmi Bank Limited subsidiary Laxmi Capital Limited debut mutual fund- ‘Laxmi Value Fund-1’- is opening from today to the general public for subscription.

Laxmi Capital has said that the issue will be closed on Falgun 6 while it can be extended up to Falgun 14.

Laxmi Value Fund is a closed-ended, five-year equity oriented fund of the size Rs 40 crore and can be extended to Rs 50 core if there is oversubscription. 15 percent of the units are set aside for fund sponsor Laxmi Bank Limited and fund manager Laxmi Capital Limited respectively.

Earlier, Laxmi Capital Market Limited debutant Laxmi Value Fund has got [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal.

So far there are 5 mutual funds already in the market – two managed by Siddhartha Bank group, one by Nabil Bank group, one by NMB Bank group and one by NIBL Bank group.

Mutual Fund are treated as the key stakeholders in the capital market, especially the share market, are upbeat about mutual funds as they give much-needed depth and maturity to the market. Such schemes are one of the safest investment tools for a novice investor, and almost as good as a pension plan for all.