Citizens Mutual Fund-1 Begins Payout to Unitholders from Today
Citizens Mutual Fund-1 has begun refunding unitholders from today after completing its 7-year term. With a final NAV of Rs. 11.30 per unit, the payout—adjusted for taxes—will be deposited into the bank accounts linked to investors’ Demat accounts.
The redemption and final payout of Citizens Mutual Fund-1 has officially begun today, marking the closure of one of Nepal’s notable closed-end mutual fund schemes. Unitholders will now receive their investment amount along with returns directly into their linked bank accounts.
Launched under the sponsorship of Citizens Bank International and managed by Citizens Capital Limited, the fund had a total of 8.2 crore units and operated as a closed-end scheme with a tenure of seven years.
The scheme reached its maturity on Falgun 19, 2081, and the Securities Board of Nepal (SEBON) approved its liquidation on Falgun 28, 2081. As per regulatory requirements, the fund manager is mandated to convert the fund’s assets into cash and distribute the proceeds to unitholders within three months of SEBON’s approval.
Citizens Capital has confirmed that the final Net Asset Value (NAV) per unit stands at Rs. 11.30. After adjusting for applicable taxes, the payout—comprising the original investment and profit—is being deposited into the bank accounts linked to each unitholder’s Demat (BO) account.
This marks the successful closure and fulfillment of obligations of Citizens Mutual Fund-1, reinforcing the trust in Nepal’s growing mutual fund industry.