"Laxmi Value Fund - II" Approved by SEBON; Laxmi Capital Market to Issue 8 Crore Units Mutual Fund Scheme Soon

The Securities Board of Nepal (SEBON) has approved the "Laxmi Value Fund - II" worth Rs 80 crores on Jestha 08, 2080. This is a closed-end mutual fund scheme that will be floating 8 crore unit shares each at a par value of Rs 10 per share.

The Sponsor of the Fund is Laxmi Bank Limited (LBL), while the fund manager is Laxmi Capital Market Limited.

As of now, Laxmi Capital Market is managing two closed-end funds i.e Laxmi Equity Fund (LEMF) and Laxmi Unnati Kosh (LUK), and one open-end fund i.e Shubha Laxmi Kosh (SLK) in the market.

There are currently 42 mutual funds, of which 7 open-end schemes are traded directly with the relevant fund manager, and 32 open-end schemes from the remaining 35 are listed on the Nepal Stock Exchange. The three open-end schemes that are yet to be listed on NEPSE are RBB Mutual Fund 2, Citizens Super 30 Mutual Fund, and Siddhartha Investment Growth Scheme 3.