Kathmandu. The application period for units of MBL Equity Fund has been extended. The application period for units of MBL Equity Fund, a collective investment fund that Machhapuchhre Capital has opened for issuance and sale since Falgun 22, has been extended.
Applications can now be made for purchasing units of that fund by Chaitra 7. However, if the number of applications exceeds the demand, the capital has stated that the issuance and sale may be closed before Chaitra 7.
Capital has put up for sale 120 million units worth one billion 200 million rupees at a face value of Rs 10 per unit. The fund, which will be operated under MBL Mutual Fund, is a 12-year closed-end scheme.
The fund has sold 14 percent of the 15 percent units, or 16.8 million units, to the fund promoter company Machhapuchhre Bank and 1 percent, or 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, the credit rating agency CARE Rating Nepal has given CARE NP Triple B Plus Issuer Rating to the fund promoter, while Infomerics Credit Rating Nepal Limited has given IRN AMC Quality 3 rating to the scheme manager.
The fund’s securities issuance and sale manager is RBB Merchant Banking 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 also apply through the C-ASBA system using the software ‘Mero Share’ online developed by CDS and Clearing Limited.
