Prabhu Select Fund Unveils First NAV Report; Profitability Ticks Down for Kumari Equity Fund in Ashar
Sun, Jul 25, 2021 12:16 PM on Latest, Mutual Fund,
Kumari Capital has unveiled the NAV report of Kumari Equity Fund for the month of Ashar.
Kumari Equity Fund has a fund size of Rs. 1,00,00,00,000. The fund had initially issued only 8 crore units but the issue was resized on demand. The fund managers have projected to maintain the NAV of 22.49 by the time the fund matures and projects to provide 22% average yearly returns.
The NAV of the fund stands at Rs. 10.72 in the month of Ashar compared to Rs. 10.76 in the previous month. The fund has invested Rs. 54.14 crores in shares of listed companies and Rs. 2.7 crores on public issues, right shares, and bonus shares. The fund has Rs. 2.44 crores in bonds/ debentures and Rs. 15 crores in fixed deposits. The fund's bank balance is worth Rs. 31.93 crores and the fund has other assets totaling a little over Rs. 1.44 crores.
In the month of Ashar, the fund reported a net profit of Rs. 7.16 crores. In the month before that, the net profit was only Rs. 7.62 crores.
Prabhu Select Fund has also unveiled its first NAV report. Prabhu Capital recently concluded the public issue of Prabhu Select Fund. Since the issue was oversubscribed, the size of the Prabhu Select Fund was extended to 125 million units, which is worth Rs. 1.25 billion, even though the fund had only issued 100 million units initially.
Prabhu Select Fund is Prabhu Capital's first-ever mutual fund scheme. It is a close-ended scheme with a maturity period of 7 years. The fund projects a 4.08% return to investors in its first year, 22.34% in its second year, 42.16% in its third year, and 130.47% in its eighth year.
The fund has invested over Rs. 37.91 crores in its first month of operation. Rs. 5.27 crore of the fund is invested in public issues, rights, and bonus shares. While Rs. 1.62 crores is invested in bonds and debentures, the fund has Rs. 10 crores in fixed deposits.
The fund has a bank balance of over Rs. 68.19 crores and other assets worth over Rs. 9.92 crores.
In its first month of operation, the fund is at a loss of over Rs. 76.44 lakhs. The NAV of the fund stands at Rs. 9.94.
