Kathmandu, December 25-
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| Siddhartha Capital Limited |
As the mutual fund schemes are gradually starting to make profit in the share market, fund managers are eager to introduce new schemes at the earliest.
Siddhartha Capital Limited plans to launch its second scheme within a month.
“We are in the final stage of implementing the new scheme, which is again a five-year closed end scheme, but it will be equity-oriented fund with equity comprising 70 percent of the fund while debt and other instruments covering the rest,” Siddhartha Capital’s CEO Dhruba Timilsina told SharesSansar.
He added that the basic size of the new scheme is Rs 80 crore, and the fluctuation would be between Rs 40 to 100 crore.
“We expect the final approval from the SEBON within a week or two, and
will launch the new scheme immediately thereafter,” Timilsina further informed.
It may be noted here that NMB Capital is also waiting for the final approval from the regulator to launch its first mutual fund product in the market.
The size of NMB’s mutual fund would be Rs 60 crore. Out of that Rs 9 crore has already been committed by the sponsor as well as the fund manager -- NMB Bank and NMB Capital.
“Now, we have to sell 51 crore to the public,” NMB officials said.
Similarly, Nabil Invest is also planning to launch its next scheme soon.
“We are thinking of a different kind of scheme, though there is not much scope for a huge difference between the mutual fund schemes due to the nature of the share market as 70 percent of the stocks are covered by the BFIs only. Hence, we have to plan a scheme within this limitation,” says Nabil Invest’s CEO Pravin Raman Parajuli.
“Most probably, our second scheme would be an equity scheme. But we are yet to decide on the size of the scheme, and when to launch it,” he added. “Currently, we are focusing on to improve the performance of our first scheme so that the investors get to understand that the mutual fund provides a good investment opportunity.”
“We are in the final stage of implementing the new scheme, which is again a five-year closed end scheme, but it will be equity-oriented fund with equity comprising 70 percent of the fund while debt and other instruments covering the rest,” Siddhartha Capital’s CEO Dhruba Timilsina told SharesSansar.
He added that the basic size of the new scheme is Rs 80 crore, and the fluctuation would be between Rs 40 to 100 crore.
“We expect the final approval from the SEBON within a week or two, and
will launch the new scheme immediately thereafter,” Timilsina further informed.
It may be noted here that NMB Capital is also waiting for the final approval from the regulator to launch its first mutual fund product in the market.
The size of NMB’s mutual fund would be Rs 60 crore. Out of that Rs 9 crore has already been committed by the sponsor as well as the fund manager -- NMB Bank and NMB Capital.
“Now, we have to sell 51 crore to the public,” NMB officials said.
Similarly, Nabil Invest is also planning to launch its next scheme soon.
“We are thinking of a different kind of scheme, though there is not much scope for a huge difference between the mutual fund schemes due to the nature of the share market as 70 percent of the stocks are covered by the BFIs only. Hence, we have to plan a scheme within this limitation,” says Nabil Invest’s CEO Pravin Raman Parajuli.
“Most probably, our second scheme would be an equity scheme. But we are yet to decide on the size of the scheme, and when to launch it,” he added. “Currently, we are focusing on to improve the performance of our first scheme so that the investors get to understand that the mutual fund provides a good investment opportunity.”
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| Siddhartha Growth Scheme-I weekly NAV Chart Source: Siddhartha Capital Website |
The eagerness to launch the new mutual fund schemes demonstrates that the fund managers are upbeat about the market for such schemes as the investors are finally waking up to the benefits of mutual funds, and the NAV of the existing two schemes in the market are gradually surging.
It may also be noted that mutual funds, usually the closed end schemes takes quite some time to pick up in the market anywhere in the world. For instance, hesitant at the onset, the Indian investors have supported the mutual fund industry to eventually become a 7 lakh crore industry.
Market experts believe that the attraction for the mutual funds would increase in the Nepali market once the existing schemes distribute dividend shortly.
Nabil and Siddhartha to give better dividend than what they pledged
Both Nabil Invest and Siddhartha Capital are already in a position to offer the dividends pledged for the first year of their schemes.
“What I can assure to our unit holders at this point is that we will be providing a little more than the dividend we had pledged for the first year,” said the Siddhartha Capital’s CEO. “As we had pledged 8 percent dividend in the first year, and as we are only six months into the operation, we will be providing more than 4 percent dividend soon.”
Nabil Invest is also pledging an attractive returns to its unit holders.
“We are already in a position to give better return than what we had projected and promised,” said Parajuli. “We will give at around 13 percent returns, after deducting all the costs involved at the end of the first year—unless there is some unexpected and unprecedented movement in the market, he said.”
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| Nabil Mutual Fund-I weekly NAV chart. Source: NabilIvest Website |
Chart Souce: Respect Mutual Fund Website
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