Kathmandu. Today, Falgun 15, is the last day to apply for the purchase of units of the collective investment fund Sanima Flexi Fund, which was launched and sold by Sanima Capital since Falgun 6. Although applications can be submitted until Falgun 20 to purchase units of the fund, Capital has stated that the application process will be closed after banking hours today due to the higher number of applications received.
The total size of Sanima Flexi Fund is 100 million units, equivalent to 1 billion rupees. Of this, 40 percent, or 40 million units, equivalent to 400 million rupees, 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. It has been arranged to apply for a minimum of 100 to 40 million units in the fund.
In the rating conducted for the issuance of mutual funds, credit rating agency ICRA Nepal has assigned the fund promoter an ICRANP Issuer Rating of A Minus At-Date and the scheme manager an ICRANP AMC Quality 3 Plus rating. This rating indicates that there is sufficient confidence in the management quality of the scheme manager.
The fund’s securities issue and sale manager is Sanima Capital Limited. Investors in the fund’s units can apply 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’ developed by CDS and Clearing Limited online.
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