Matured Laxmi Value Fund -1 partially refunds unitholders

Laxmi Capital Market Limited has issued an announcement today notifying investors about the release of partial funds from the Laxmi Value Fund - 1 that has already matured.

Laxmi Value Fund-1 (LVF1) is a closed-end 5 years mutual fund scheme managed by Laxmi Capital Market Limited and sponsored by Laxmi Bank. Laxmi Capital Market Limited is a wholly-owned subsidiary of Laxmi Bank.

The fund had published a notice on Chaitra 11, 2076, stating that the scheme had matured. The Securities Board of Nepal (SEBON) had then instructed Laxmi Capital Market Limited on Ashadh 22, 2077 to return the fund to respective unitholders.

Laxmi Capital has now decided to release Rs. 10 per unit. Needless to say, all unitholders will receive funds according to the proportion of their ownership.

According to the announcement, it has also been stated that the remaining amount will be released as early as possible.

Laxmi Value Fund 1's market price was Rs. 9.64 when it closed on its last trading day. Similarly, its monthly Net Asset Value (NAV) was Rs. 10.26.

Moreover, Laxmi Value Fund-1 had also published an auction notice from 17th to 24th Ashad, 2077 for various shares that didn't sell during maturity.