Laxmi Value Fund-1 allotment result out; 100% for applicants of units worth up to Rs 50,000

ShareSansar, March 26:

Laxmi Value Fund-1  allotment result made public .

According to a top official involved in managing the fund, investors who had applied for units worth Rs 50,000 are set to get 100% of their demand, while those who had applied for units worth more than Rs 50,000 will be allotted 32%.

Under the scheme, four crore units of face value Rs 10 was issued on Magh 29. By the time the offer was closed on Falgun 6, the fund has already received applications for units worth more than Rs 1 arba 15 crore.

Laxmi Value Fund is a closed-ended, five-year equity oriented with the fund of size of Rs 40 crore. Because of the increased subscribers’ interest in the fund, the mutual fund’s size was later expanded to Rs 50 crore.

Of the total issue, 15 percent was set aside for fund sponsor Laxmi Bank Limited and fund manager Laxmi Capital Limited respectively.

Earlier, Laxmi Capital Market Limited debutant Laxmi Value Fund has got [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal.

So far there are 5 mutual funds already in the market – two managed by Siddhartha Bank group, one by Nabil Bank group, one by NMB Bank group and one by NIBL Bank group.

CLICK HERE FOR ALLOTMENT RESULT