SEBON amends bylaws regarding Mutual Fund’s management; make way for holders of open-ended mutual funds to receive more return on their investment

Securities Exchange Board of Nepal has implemented the 4^th amendment in Mutual Fund Bylaws 2077 from Bhadra 24, 2077.

Under the latest amendment, fund managers of open-ended mutual fund schemes will now need to indicate exit fee as the income of the mutual fund while repurchasing the units. This new provision will make the mutual fund better capable to distribute bigger chunk of profit to the unitholders, as per the media statement.

Moreover, the fund managing institutions can now appoint its managers and auditors simply by giving a heads-up to the board, as per the media statement.