Global IME Bank sponsored Global IME Samunnat Scheme 1 to Mature on Chaitra 11; Units Holders to Get Their Money Back Proportionally

Global IME Samunnat Scheme 1 (GIMES1) is a closed-end 7 years mutual fund scheme of Rs. 1 Arba managed by Global IME Capital Limited, sponsored by Global IME Bank Limited. The allotment of the mutual fund was opened on Magh 13, 2072. The mutual fund scheme is to mature on Chaitra 11, 2079. The mutual fund has given dividends for the two fiscal years till date.

After the end of the maturity period, the transaction of the shares of the mutual fund will be suspended and the investors are to receive their share of investment after the mutual fund sells all its investment. The fund has published its monthly report for Magh, 2079 according to which its NAV stands at Rs 10.45. As per the report, the fund has made an investment of Rs 95.66 crores in listed companies’ shares, Rs 7.22 crore in debentures and Rs 2.6 crores in non-listed shares. At the end of its maturity period, the fund needs to sell all the shares, debentures and non-listed shares and to proportionally distribute the amount to the unit holders.

The last traded price of the mutual fund was Rs 9.59 as on February 27, 2023. The mutual fund is likely to have started selling its investment to wind up in Chaitra and refund all the investors. As there is a provision to pay the unit owners based on their ownership, the unit owners will be paid back after complying with the applicable legal and regulatory procedures.

Additionally, this notice informs unit owners who have not yet dematerialized the units in their names after buying units under the aforementioned scheme to do so as soon as possible. This notice also advises unit holders who have established beneficiary accounts in their names to dematerialize their scheme units by establishing beneficiary accounts at the local offices of Global IME Capital Ltd., Global IME Bank Ltd., or the closest depository member.

Apart from GIMES1, Global IME Capital also manages "Global IME Balanced Fund – 1 (GIBF1)" which is a closed-end fund and has a maturity period of 10 years. Global IME Balanced Fund – 1 has a fund size of Rs. 1.02 Arba.