Sanima Capital on final stage for getting approval to issue its first mutual fund scheme; Plans to float public issue before election

Sanima Equity Fund, the first mutual scheme to be managed by Sanima Capital Limited, is on final stage for getting approval from Securities Board of Nepal (SEBON).  The mutual fund scheme with fund size of Rs 1.20 arba will be floating 12 crore units with face value of Rs 10 per unit. As per an official of Sanima Capital, the scheme will likely get approval from the Board soon. “The mutual fund scheme mainly focuses in equity portion. We are planning to float the public issue before election. Most probably, the issue will be open within the first week of Mangsir", said the official. Sanima Equity Fund is a closed-end 7-years equity oriented scheme with fund size of Rs 1.20 arba. Sanima Bank Limited is its fund sponsor. There are 11 mutual fund schemes already trading in NEPSE currently. Siddhartha Equity Fund recently floated its issue and is yet to be listed in Nepal Stock Exchange.