Kathmandu. Kathmandu: Reliable Nepal Life Insurance is issuing the first mutual fund in the insurance sector of Nepal called ‘Reliable Samriddhi Yojana’ from today. Reliable Investment and Merchant Capital is the scheme manager of this mutual fund.
Accordingly, a total of 100 million units will be opened for sale at a face value of Rs 10 each. Of the total 15 million units, 14 percent has been allotted to fund promoter Reliable Nepal Life and 1 million units to plan manager Reliable Capital. The remaining 85 million units will be issued publicly.
inline_tags_PLACEHOLDER_3 #लगानीकर्ताले can apply for a minimum inline_tags_PLACEHOLDER_4 of 100 units to a maximum of 10 million units under this scheme. The issue of this scheme will be closed at the earliest after the banking hours on April 15. If all the units are not sold by that period, then they can apply till the banking time on May 15.
Investors can apply for the purchase of the unit online through all the banks and financial institutions and their branch offices as well as cdsc’s my share software.
Reliable Prosperity Scheme is of a closed-ended type. This is a 10-year plan. After the allocation of units of this scheme, the transaction can be done after listing on the Nepal Stock Exchange.
The profit will be distributed on the basis of the face value of the unit in proportion to the net profit earned by this scheme. The plan provides the facility to deduct dividend from the net profit and use the remaining amount for the reinvestment of the accumulated profits.
10 years of annual returns
The investors of Reliable Prosperity Scheme are expected to get 8.32 percent return in the first year itself. In the second year, the return distribution is estimated at 13.45 percent, in the subsequent years, 12.15 percent, 10.86 percent, 10.53 percent and 10 percent respectively. According to the project manager, 43 percent, 10.32 percent, 10.24 percent, 10.18 percent and 19.28 percent in the last year will be distributed. Under this scheme, investors are expected to get an average annual return of 17.5 percent in 10 years.
