Kathmandu, Jan 6 .Two mutual funds are to be introduced when the share market is showing signs of improvement.
These mutual funds are promoted by Sanima Bank and Laxmi Bank, the Securities Board Nepal (SEBON) stated. The mutual funds are equivalent to a total Rs 1.80 billion. The mutual fund promoted by Sanima Bank and dubbed as ‘Sanima Large Capital Fund’ is worth one billion rupees. A total 100 million units of the fund would be sold.
Similarly, the Laxmi Unnati Kosh, the mutual fund promoted by Laxmi Bank is worth Rs 800 million and a total 80 million units of it would be sold.
It is said these mutual funds are under consideration of SEBON and permission for their sale would be granted soon. Nineteen mutual funds are being traded in Nepal Stock Exchange (NEPSE) at present.