Three more mutual funds from NMB Capital

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. Currently NMB Bank is seeking permission from Securities Board of Nepal (SEBON) to issue these mutual fund schemes which collectively stand at around Rs128 crore. These mutual fund schemes will be managed by NMB Capital, a wholly owned subsidiary of NMB Bank. “It’s been 2 weeks that we have applied for these mutual fund schemes. Hopefully, SEBON will give the approval for our mutual fund scheme within 3 months” said NMB Capital’s official. NMB hybrid fund L-1will be floating public issue amount worth Rs60 crore. Similarly,NMB Hybrid Fund H-1 and NMB hybrid fund M-1 will be issuing public issue amount worth Rs28 crore and 40 crore respectively. The mutual fund schemes are equity based product and depending in certain market scenario the funds will perform said the official of NMB capital limited. NMB bank already has its first mutual fund scheme NMB Sulav Investment Fund – 1 (NMBSF-1), listed in NEPSE. The last traded price of NMBSF-1 is Rs 10.10 per unit as of September 23, 2015. The current Net Asset Value of NMBSF-1 as published on NMB capital’s website is Rs 12.56 for the week of 11 September through 18 September 2015.