Nabil Bank announced the first scheme under Nabil Mutual Fund named Nabil Balanced Fund-I amounting Rs 600 million on March 20 with an early closure option on March 24 in case of over-subscription. It is a close-ended scheme with a maturity period of five years. The units will be listed in Nepal Stock Exchange (Nepse) and can be traded like any other securities listed in Nepse till the maturity.┬а
┬аSmall, medium and large investors can invest in the mutual fund with the minimum amount of Rs 1,000 and maximum to Rs 60 million per investor. ┬аA unit of the scheme will be primarily priced at Rs 10 and according to the Mutual Fund Guidelines 2069, a single investor has to buy a minimum of 100 units. ┬аA single investor can obtain upto 10 percent of the offer amount. The scheme is expected to provide 18 percent annual dividend on an average to unit holders.
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