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. 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. |
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. |
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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
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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. |