SEBON Approves "Prabhu Smart Fund" New Mutual Fund Scheme Worth Rs 80 Crores
Wed, Jan 4, 2023 10:58 AM on Latest, Mutual Fund,
The Securities Board of Nepal (SEBON) has approved the mutual fund scheme 'Prabhu Smart Fund (PSMF)' worth Rs 80 Crores on Poush 19, 2079. The fund manager submitted the application to the board on Shrawan 25, 2078 seeking permission for the issuance of units.
"Prabhu Smart Fund" is a closed-end fund that will be floating 8 crore unit shares each at a par value of Rs 10 per share. The sponsor of the fund is Prabhu Bank Limited (PRVU), while the fund manager is Prabhu Capital Limited.
Prabhu Capital is managing one closed-end fund, Prabhu Select Fund (PSF) in the market. As of Mangsir's end, PSF has a NAV of Rs. 9.84.
Currently, there are 36 mutual funds listed on the Nepal Stock Exchange, of which 30 are closed-end and 6 are open-end schemes. One closed-end mutual fund scheme, NIBL Growth Fund (NGF), is still going through the issuance process.
