Kathmandu. The first closed-end scheme ‘Reliable Samriddhi Yojana’, operated under ‘Reliable Collective Investment Fund’, with Reliable Nepal Life Insurance Limited as the fund promoter and Reliable Investment and Merchant Capital Limited as the scheme manager, will be open for sale from Baisakh 30, with a size of 1 billion.
Out of which 85 million units or Rs 850 million worth of units have been opened for sale through a public offering (IPO), the company has stated.
Since this scheme is a closed-end scheme, its units will be listed on the stock exchange and after the public offering, they can be bought and sold in the stock exchange as per the Collective Investment Fund Regulations, 2067. .
This scheme is the first mutual fund promoted by the insurance sector in Nepal. The annual average return of this scheme is projected to be 17.73 percent.
The public offering of Reliable Mutual Fund is being opened from 2082 Baisakh 3 to Baisakh 7 at the earliest and Baisakh 17 at the latest. Interested investors (individuals and institutions) can apply online by logging into their bank or Mero Share where they have a C-Ashwa account for a minimum investment of Rs 1,000 to a maximum of Rs 100 million, the company said.
The company has stated that the company is committed to providing excellent returns to shareholders.
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