Siddhartha Capital Limited intends to sell units of its new mutual fund scheme, dubbed the ‘Siddhartha Systematic Investment Scheme.’ On Jestha 27, 2078 BS, the Securities Board of Nepal (SEBON) granted the fund manager permission to issue shares to the general public.
The fund manager, Siddhartha Capital, intends to offer 2 crore units of the program at a par value of Rs 10 per unit. As a result, the total issue size is Rs 20 crores. The scheme will be run by the ‘Siddhartha Mutual Fund.’
The Siddhartha Mutual Fund is promoted by Siddhartha Bank. As a result, the bank and its subsidiary Siddhartha Capital will buy 15% of the program, or 30 lakh units. The general public is eligible to register for the remaining 1.70 crore units for Rs 17 crore.
The ‘Siddhartha Systematic Investment Scheme’ is a closed-end fund. An open-ended mutual fund allows interested investors to buy or sell shares straight from the fund. There is no requirement to buy from existing shareholders. The scheme’s units will not be listed or traded on the stock exchange.
Investing in a mutual fund can be a suitable strategy for most investors because it provides strong returns while posing a little risk. Mutual funds are professionally managed and offer a wide range of diversity.