SEBON Approved Kumari Capital’s Mutual Fund Scheme "Kumari Sabal Yojana" To Issue 10 Crore Mutual Fund Units

The Securities Board of Nepal (SEBON) has approved the "Kumari Sabal Yojana" worth Rs 1 Arba on Poush 1, 2080.

This is a closed-end mutual fund scheme that will be floating 10 crore unit shares each at a par value of Rs 10 per share. The sponsor of the fund is Kumari Bank Limited, while the fund manager is Kumari Capital Limited.

As of now, Kumari Capital is managing two closed-end funds i.e. Kumari Equity Fund (KEF), and Kumari Dhanabriddhi Yojana (KDBY), and one open-end fund i.e Kumari Sunaulo Lagani Yojana (KSLY) in the market.

There are currently 35 closed-end mutual funds listed on the Nepal Stock Exchange, whereas 7 open-end schemes are traded directly in the respective fund manager. However, Siddhartha Investment Growth Scheme-3 (SIGS3) managed by Siddhartha Capital is already listed on NEPSE but is yet to be traded, upon which there will be 43 schemes altogether.