LVF1 and LEMF NAV's rises by 5.36% and 6.63% respectively in Baisakh; both fund sold shares in rising market last month

Laxmi Value Fund-1 (LVF1), a closed-end 5 years mutual fund scheme managed by Laxmi Capital Market Limited, has reported increased in NAV by 5.36% to Rs 11.79 for the month of Baisakh while it was Rs 11.19 for the previous month.

The scheme, which began with a fund size of Rs 50 crore, has invested Rs 27.64 crore in the shares of 32 listed companies and has Rs 57.60 lakhs investment in IPO shares.

Out of its total investment in listed shares, Laxmi Value Fund-1 has bought highest 45,157 units Promoter shares of the Nabil Bank Limited worth Rs 3.71 crore.

This mutual fund has Rs 5 crore as fixed deposit and Rs 25.67 crore as bank balance. It has reported net loss of Rs 5.36 crore till Baisakh which was Rs 8.36 crore till the end of Chaitra month.

Similarly, Laxmi Equity Fund (LEMF), a closed-end 7 years equity oriented mutual fund scheme also managed by Laxmi Capital Market Limited, has reported rise in NAV by 6.63% to Rs 9.48 in the month of Baisakh which has increased from Rs 8.89 in the previous month.

The scheme, which began with a fund size of Rs 1.25 arba has invested Rs 70.73 crore in listed shares of 70 different companies.

The scheme has invested in 15.59 lakh unit shares of 70 listed companies as of Baisakh end. LEMF has invested Rs 1.43 crore in initial public offerings and Rs 1 crore in bond/debentures. This mutual fund has Rs 6 crore as fixed deposit and Rs 38.46 crore as bank balance.

Out of its total investment in listed shares, Laxmi Equity Fund has made major investment in Nepal Telecom, Premier Insurance, Life Insurance Corporation and Nepal Life Insurance Company.

It has reported net loss of Rs 11.44 crore till Baisakh which was Rs 18.78 crore net loss in the previous month.