Total collection of Citizens Mutual Fund-2 stands at Rs.55.99 Crore; almost 3 Crore units remain unsubscribed

Citizens Mutual Fund-2, managed by CBIL Capital Limited and sponsored by Citizens Bank International Limited had closed the public issue of 10 crore units mutual fund scheme worth Rs 1 arba from Ashad 8, 2076.

The mutual fund was issuing a total of 10 crore units worth Rs 1 arba at face value of Rs 10 per unit. 

Citizens Mutual Fund 2 is the CBIL Capital Limited second mutual fund scheme, and is a 7-years closed-end fund. Under the current mutual fund regulation, 15% units i.e. 1.50 crore units are reserved for fund manager and fund sponsor. Remaining 8.5 crore units was floated for the general public.

As per CBIL Capital, the issue received 16,426 applications with total collection of Rs. 55 Crore 99 Lakhs 55 Thousand and 300 till the closing date. 

CBIL Capital Limited is a subsidiary of Citizens Bank International Limited licensed by SEBON to provide merchant banking, issue management, corporate advisory and mutual fund services.

CBIL Capital Limited has already issued 1 mutual funds i.e. Citizens Mutual Fund 1 which is a 7 years close ended fund with issue size of Rs 82 crore and its Chaitra end NAV was Rs 10.78, whereas, last week NAV has increased to Rs 11.51.

Currently, there are 13 mutual fund schemes in the market and all are listed in Nepal Stock Exchange.