Prabhu Bank Launches "Prabhu Systematic Investment Scheme" Mutual Fund for Public
The "Prabhu Systematic Investment Scheme" is structured as an open-ended fund, providing flexibility for investors.
Prabhu Capital Limited has announced the launch of the "Prabhu Systematic Investment Scheme," a closed-end mutual fund scheme aimed at attracting investments from the general public and institutions. The subscription period is set to begin from Jestha 23 and will continue until Jestha 27, 2082, with a possible extension until Ashadh 6 if the fund remains undersubscribed by the closing date.
The scheme plans to issue a total of 40 million units. Of these, 7.5% or 3 million units (valued at NPR 3 crore) are reserved for the scheme manager, Prabhu Bank Limited. Another 7.5% or 3 million units have been allocated to the fund sponsor, Prabhu Capital Limited, also valued at NPR 3 crore. The remaining 25 million units, worth NPR 25 crore, will be available for purchase by the general public and institutional investors.
The "Prabhu Systematic Investment Scheme" is structured as an open-ended fund, providing flexibility for investors. Individuals and entities can apply for a minimum of 100 units, with the option to subscribe up to a maximum of 3.1 million units.
This initiative by Prabhu Bank and Prabhu Capital Limited offers a new opportunity for investors to diversify their portfolios while participating in the growing mutual fund market in Nepal.