Sebon yet to approve 4 mutual fund schemes of NMB Capital & NIBL Capital Markets

NMB Capital Limited is introducing three more mutual funds named NMB Hybrid Fund L-1, NMB Hybrid Fund H-1 and NMB Hybrid Fund M-1. These mutual fund schemes will be managed by NMB Capital Limited, a wholly owned subsidiary of NMB Bank. NMB Hybrid Fund L-1will be floating public issue amount worth Rs 60 crore. Similarly, NMB Hybrid Fund H-1 and NMB Hybrid Fund M-1 will be issuing public issue amount  worth Rs 28 crore and Rs 40 crore respectively.  As per the official of NMB Capital, “The mutual fund schemes are not only equity based product rather covers broad areas such as fixed deposit and bonds.” NMB Bank is seeking permission from Securities Board of Nepal (SEBON) to issue these mutual fund schemes. “It’s been 9 months that we have applied for these mutual fund schemes. Hopefully, SEBON will give approval for our mutual fund scheme within 2 months” said NMB Capital’s official. NMB Bank already has its first mutual fund scheme NMB Sulav Investment Fund – 1 (NMBSF-1) listed in NEPSE. The fund’s net asset value (NAV) remains at Rs 16.26 as of Baisakh end. Its last traded price (LTP) stands at Rs 12.70 as on June 2, 2016. Likewise, NIBL Capital Markets Limited is also coming out with mutual fund scheme named NIBL Pragati Fund. The mutual fund scheme will be managed by NIBL Capital Markets Limited, a wholly owned subsidiary of Nepal Investment Bank limited. NIBL Pragati Fund will be issuing public issue amount worth Rs 60 crore. As per an official of NIBL Capital Markets Limited, “NIBL Pragati Fund is 100% equity based product which means high risk with high return. “ Currently NIBL Capital is seeking permission from Securities Board of Nepal (SEBON) to issue this mutual fund scheme. “It’s been 3 weeks that we have applied for the scheme. As soon as Sebon approves the scheme we will be floating the issue.” said NIBL Capital official. Prior to this, Nepal Investment Bank has its first mutual fund scheme NIBL Samriddhi Fund-1 listed in Nepal Stock Exchange Limited. The fund net asset value (NAV) remains at Rs 14.15 as of Baisakh end. Its last traded price (LTP) stands at Rs 10.85 as on June 2, 2016. .