Kathmandu. The application period for purchasing units of Sanima Flexi Fund, a collective investment fund launched and sold by Sanima Capital since Falgun 6, has been extended. Applications can now be submitted until Falgun 20. The issuance was initially scheduled to close on Falgun 11, but the issuance period has been extended due to a lack of applications.
The total size of Sanima Flexi Fund is 100 million units, equivalent to Rs 1 billion. Of this, 40 percent, or 40 million units, equivalent to Rs 400 million, is going to be publicly sold by Capital in the first phase. Out of these 40 million units, 13 million units have been reserved for the fund promoter, Sanima Bank, and 2 million units for Sanima Capital. Investors can apply for the remaining 25 million units.
Sanima Flexi Fund, operated under Sanima Mutual Fund, is an open-ended scheme. The fund has a minimum application limit of 100 to 40 million units.
Sanima Capital Limited is the fund’s securities issuance and sales manager. In the rating conducted for the mutual fund issuance, credit rating agency ICRA Nepal has assigned the fund promoter an ICRANP Issuer Rating of A Minus At-Date, while the scheme manager has been assigned an ICRANP AMC Quality 3 Plus rating. This rating indicates that there is sufficient confidence in the management quality of the scheme manager.
Investors can apply for units of the said fund from all ASBA member banks and financial institutions approved by the Securities and Exchange Board of Nepal and their designated branch offices. In addition, they can also apply through the C-ASBA system using the software ‘Mero Share’ online developed by CDS and Clearing Limited.
