SEBON Approves Two New Mutual Fund Schemes "RBB Mutual Fund 2" and "Citizens Super 30 Mutual Fund"

Under RBB Mutual Fund, a new scheme with the name RBB Mutual Fund 2 is scheduled to be introduced. For this, the scheme manager, RBB Merchant Banking Limited, receives approval from the Securities Board of Nepal (SEBON) for authorization to issue securities.

RBB Merchant will issue a total of 12 crores units of closed-end mutual fund scheme to the general public at a minimal price of Rs. 10 each. Thus, the amount of issue will be Rs. 1.20 Arba

Previously, RBB Merchant had issued the RBB Mutual Fund-1. RBB Mutual Fund-1 is a closed-end fund and has a maturity period of seven years. The introduction of RBB Mutual Fund - II, will be the second mutual fund scheme of Rastriya Banijya Bank.

Likewise, under Citizens Capital Ltd. (Former CBIL Capital), a new mutual fund scheme - Citizens Super 30 Mutual Fund (30CSMF) has also been approved by SEBON.

Citizens Capital will issue a total of 10 crores units of closed- end mutual fund schemes to the general public at a minimal price of Rs. 10 each. Thus, the amount of issue will be Rs. 1 Arba

Currently, Citizens Capital Ltd. Manages two other closed-end mutual fund schemes named Citizens Mutual Fund-1 (CMF1) and Citizens Mutual Fund-2 (CMF2).

There are currently 32 closed-end mutual funds listed on Nepal Stock Exchange, whereas 6 open-end schemes are traded directly in the respective fund manager.