Kathmandu. Today is the last day to apply for the purchase of units of the mutual fund MBL Equity Fund, which has been open for issue and sale by Machhapuchhre Capital since Falgun 22.
The capital has put up for sale 120 million units worth one billion 200 million rupees at a face value of 10 rupees per unit. The fund, which will be operated under the 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 the mutual fund, the credit rating agency CARE Rating Nepal has provided CARE NP Triple B Plus Issuer Rating to the fund promoter, while Infomerics Credit Rating Nepal Limited has provided IRN AMC Quality 3 rating to the scheme manager.
RBB Merchant Banking Limited is the fund’s securities issuance and sales manager. Investors can apply for units of the fund from all ASBA member banks and financial institutions approved by the Securities and Exchange Board of Nepal and their designated branch offices.
Also, they can apply through the C-ASBA system using the software ‘Mero Share’ online developed by CDS and Clearing Limited.
