Allotment of NMB Sulav Investment Fund-I, 100% up to 5000 units and 26.10% to rest

ShareSansar, Oct 20:

The allotment of ‘NMB Sulav Investment Fund-I’ -promoted by the NMB Bank and operated by Bank’s subsidiary NMB Capital Limited- took place today.

According to the official of NMB capital, it has allotted 100 percent to those who applied up to 5,000 units and 26.10 percent for those who applied more.

The mutual fund, which was closed on Ashoj 6, originally offered 60 million units, but following a high number of applications for the mutual fund units priced at Rs 10, the fund manager allotted units worth Rs 750 million as allowed by the Mutual Fund Regulations 2067.

As per the official of NMB Capital, they have invested one percent worth Rs 75 lakhs and NMB bank --Fund sponsor of this mutual fund-- has invested 14 percent worth Rs 10 crore 50 lakh while rest of the 85 percent was allotted to general public.

NMB Sulav Investment Fund has received [ICRANP] AMC Quality 3 (AMCs), which is a very good credit rating.

Stock analysts believe that the entry of mutual fund helps to stabilize the volatility of the stock market.

With NMB Sulav Investment Fund – , there are now four mutual funds in the market,  including two operated Siddharth Capital Limited (SIG-1 and SEOS), and one managed by Nabil Investment Banking Limited (NBF-1).