Laxmi Capital News
Laxmi Equity Fund

1. General Features

Particulars

Description

Fund Name

Laxmi Mutual Fund

Scheme Name

Laxmi Equity Fund

Scheme Type

Closed-end

Fund Size

NRs. 1.25 Crores(One billion two hundred and fifty million)

Price Per Unit

NRs. 10

Date Of Allotment

June 12,2017

Units Alotted

125,000,000(One hundred and twenty five million)

Maturity

7 years

2. Fund Sponsor

Laxmi Bank Limited

3. Fund Supervisors

i. Mr. Vinod Kumar Devkota

Former Member-Secretary in Nepal Law Reform Commission, Former Joint-Secretary in the Ministry of Law and Justice. Over 40 years of work experience in the field of Law.  

ii. Dr. Trilochan Upreti

PhD on International Law from University of Reading. Over 32 years of work experience in Legal Matters.

iii. Mr. Parshuram Koirala

Masters of Laws (LLM.) in Commercial Laws, from University of Mumbai (India). Over 20 years of work experience as a Legal Practitioner.

iv. Dr. Radheshyam Pradhan

Professor-Finance; Ph.D. from Delhi University. Over 38 years of work experience as a Professor at Tribhuvan University.

v. Mr. Nandan Hari Sharma     

M. Sc (Financial Studies) from Strathclyde University, UK. MBA from Tribhuvan University. Experience of more than 33 years in managerial level in different Institutions.

4. Fund Manager and Depository

Laxmi Capital Market Limited

5. Assets Allocation

The Scheme will invest in a combination of or in all the following instruments as stipulated by Rule 34 of prevailing Mutual Fund Regulation:

  • Securities registered with Securities Board of Nepal (SEBON)

  • Securities called for public offering

  • Securities listed in Stock Exchange

  • Debentures, Treasure Bills and other instruments of money market issued by Government of Nepal or Government Agencies receiving full guarantee or protection of Government of Nepal or Nepal Rastra Bank.

  • Bank deposits

  • Money Market instruments

  • Other areas prescribed by the SEBON

6. Audit and the fiscal year to be followed

The audit of the fund shall be done every year based on Nepali Calendar starting from 1st of Shrawan till End of Ashadh.

 

 

 

7. Cost of the Fund

The cost of the fund shall be as follows:

a. Scheme registration and issue fee

0.1 % or minimum five lakhs whichever is higher for registration and issue fee shall be as per the agreement with issue manager

b. Regular costs:

  • Fund management fee- annually 2.0 % of the NAV
  • Fund depository fee- annually 0.5% of the NAV
  • Meeting allowances for the Fund Supervisors

(All above fee shall be computed based on Mutual Fund Regulation 2067)

c. Listing fee:

     As per NEPSE regulation

d. Audit fee, notice and other publication fee

e. CDS registration fee

As per CDS regulation

8. Risk associated with mutual fund investment

Mutual Fund investments are subject to market risks.