Laxmi Capital News
Laxmi Equity Fund
Laxmi Equity Fund
Scheme Name Laxmi Equity Fund
Scheme Nature Equity Oriented
Scheme Type Closed-end
Fund Size NRs. 1,250,000,000 (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
Fund Sponsor Laxmi Bank Limited
Fund Supervisors 1. 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.
2. Mr. Chhetra Gopal Pradhan: Chartered Accountancy from Institute of Chartered Accountants of Nepal. Over 16 years of work experience in the field of audit, accounting and consulting in different Institutions.
3. Mr. Parsuram Koirala: Masters of Laws (LLM.) in Commercial Laws, from University of Mumbai (India). Over 20 years of work experience as a Legal Practitioner.
4. Dr. Radhe Shyam Pradhan: Professor-Finance; Ph.D. from Delhi University. Over 38 years of work experience as a Professor at Tribhuvan University.
Fund Manager and Depository Laxmi Capital Market Limited
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
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.
Scheme Expenses The scheme expenses 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 1.5 % of the NAV
Fund depository fee- annually 0.2% 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
Risk Associated with Mutual Fund Investment Mutual fund investments are subject to market risks.