Public Issue of "Siddhartha Systematic Investment Scheme" to Open from Ashar 16

Siddhartha Capital Limited has published an offer letter to issue "Siddhartha Systematic Investment Scheme". The issue will open on 16th Ashar and close on 20th Ashar, 2078. If not subscribed by the early closing date, the deadline can be extended till 30th Ashar.

2 crore units will be issued at Rs 10 face value each. 5% of the initial issue size has been allocated for the issue manager Siddhartha Capital and 10% to fund promoter Siddhartha Bank.

Investors can apply for a minimum of 100 units to a maximum of 20,00,000 units.

Siddhartha Systematic Investment Scheme is an open-ended fund, meaning investors can buy units of the fund from the fund manager, and the fund can keep adding to its total unit size. However, this also means that the fund will not be traded in NEPSE.

This is the fifth mutual fund scheme of Siddhartha Capital, two of which have matured already. The other two mutual funds, Siddhartha Equity Fund (SEF) and Siddhartha Investment Growth Scheme 2 (SIGS2) are close-ended funds and are currently trading in NEPSE.

ICRA Nepal has rated the fund manager AMC3+. This rating indicates an adequate assurance of the fund management quality. To avoid conflict of interest among the fund schemes manager, the fund manager Siddhartha Capital separately appoints independent fund management officers for each mutual fund scheme.

Offer Letter