Public Issue of "Sunrise Focused Equity Fund" Opening From Today

Tue, Jan 24, 2023 9:50 AM on IPO/FPO News, Mutual Fund, Latest,

Sunrise Capital Limited is opening the issue of the closed-end mutual fund scheme "Sunrise Focused Equity Fund" from today i.e. on 10th Magh and will close on 13th Magh, 2079. If not subscribed fully by the early closing date, the issue can be extended till Magh 24.

12 crore unit shares will be issued at a par value of Rs. 10 per unit. 15% of the total units i.e. 1.80 crore units worth Rs. 18 crores have been allocated to the fund promoter Sunrise Bank Limited. Thus, the remaining 10.20 crore units will be allocated to the general public.

"Sunrise Focused Equity Fund" is a closed-end fund that can be traded in NEPSE. The fund has a maturity period of 10 years. Applicants can apply for a minimum of 100 units to a maximum of 1.2 crore units.

Presently, Sunrise Capital is managing two closed-end funds i.e Sunrise First Mutual Fund (SFMF) and Sunrise Bluechip Fund (SBCF) in the market. As of Mangsir's end, SFMF and SBCF have a NAV of Rs. 11.39 and Rs. 8.78 respectively.

Currently, there are 36 mutual funds listed on the Nepal Stock Exchange, of which 30 are closed-end and 6 are open-end schemes. Apart from this, One closed-end mutual fund scheme, NIBL Growth Fund (NGF), is still going through the issuance process.

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