Rs 140 Crore Worth Mutual Fund Coming in Market

Kathmandu, Dec. 25 – Total of Rs 140 crore worth mutual fund is going to hit the market. Siddhartha Capital Limited plans to launch its second scheme within a month. Siddhartha Capital’s CEO Dhruba Timilsina told that the basic size of the new scheme is Rs 80 crore, and the fluctuation would be between Rs 40 to 100 crore.

Similarly, NMB Capital is also waiting for the final approval from the SEBON to launch its first mutual fund product in the market. The size of NMB’s mutual fund would be Rs 60 crore. Out of that Rs 9 crore has already been committed by the sponsor as well as the fund manager, NMB Bank and NMB Capital.

The eagerness to launch the new mutual fund schemes demonstrates that the fund managers are upbeat about the market for such schemes as the investors are finally waking up to the benefits of mutual funds, and the NAV of the existing two schemes in the market are gradually surging. It may also be noted that mutual funds, usually the closed end schemes takes quite some time to pick up in the market anywhere in the world.