Kathmandu. NMB Capital has extended the application deadline for purchasing units of the mutual fund MAB Hybrid Fund L2, which was launched and sold since Magh 24. Applications for purchasing units of the fund can now be submitted until Falgun 8.
Capital has brought 120 million units worth Rs 1.2 billion for sale at a face value of Rs 10 per unit. NMB Hybrid Fund L2, operated under NMB Mutual Fund, is a ten-year closed-end scheme.
The fund has sold 15 percent, i.e. 16.8 million units, to the fund promoter company NMB Bank and 1 percent, i.e. 1.2 million units, to the scheme manager, and the remaining 102 million units to the general public. The fund has a minimum application limit of 100 to 12 million units.
In the rating conducted for the issuance of mutual funds, credit rating agency ICRA Nepal has given the fund promoter an ICRA NP Issuer Rating of A Minus and the scheme manager an ICRA NP AMC Quality 2 rating. This rating indicates high confidence in the management quality of the scheme manager.
The fund’s securities issuance and sale manager is NMB Capital Limited. Investors in the fund’s units can apply from all ASBA member banks and financial institutions that have received approval from the Securities and Exchange Board of Nepal and their designated branch offices. In addition, they can apply online through the C-ASBA system using the software ‘Mero Share’ developed by CDS and Clearing Limited.
