Nabil Mutual Fund in offing

KATHMANDU, FEB 5: 

Nabil Bank has registered Nabil Mutual Fund with the capital market regulator based on Mutual Fund Regulation 2067. The bank’s merchant banking subsidiary — Nabil Investment Banking — has also applied for the license of an asset management company for the Fund. Nabil Invest is the first company to seek a license for an asset management company for the Funds. The bank will work as the sponsor while its merchant banking subsidiary will act as the asset management company as per the regulations.

The capital market regulator, Securities Board of Nepal (Sebon), had already awarded a license to Siddhartha Bank to establish Siddhartha Mutual Fund in August. NMB Bank and Laxmi Bank are also waiting for Sebon’s green signal to start Mutual Funds. They have applied for the operating license.

Source: THT