Mutual fund software launched

KATHMANDU, JUN 01 -

Professional Computer System (PCS) has officially launched the Professional Mutual Fund Software (PMFS) for online stock trading of institutional investors. The software is also expected to disseminate information about the sector to individual mutual fund investors.

Speaking at a programme, PCS Managing Director Suresh Regmi said the software enables investors to know about the status of investment made by mutual funds. “Similarly, they will know about the investment pattern and their respective capital gain/loss out of their investment in mutual fund,” he said.

The software sets up a link of the mutual fund with the Nepal Stock Exchange, brokering companies, individual investors, the Company Registrar Office and regulatory bodies. According to PCS, the software facilitates stock trading in both open- and close-ended mutual fund schemes.

Open-ended scheme is based on the maturity period starting from six months. It includes sales and purchase of investors’ shares and assessing audit report, net assets value and reports of regulatory body.

“The software instantly uploads functioning of the mutual fund in compliance with new regulations of the central bank and the Securities Board of Nepal,” said Regmi. He said it also supports close-ended scheme which is not subjected to maturity period and allows carrying out transaction from distant places. According to the Securities Board, seven mutual funds are currently operating in the country. In addition, there is growing attraction towards mutual fund investment.

Implementation of PMFS is expected simplify the operation of institutional investment. According to PCS, it will help in initial public offerings, dissemination of stock prices and fixing the value of net assets of investors. “This can boost the capital market by attracting more investors in mutual fund,” he said.

PCS said mutual funds including Nabil Investment and Siddhartha Capital have already brought the software . The company has been engaged in software business for over two decades. It has prepared and sold IT software related to the financial sector including Share Registrar Solution, and Bank Pro, among otehrs.

Source: The Kathmandu Post