SEBON Approves "RBB Focus 40" Mutual Fund Scheme to Issue 10 Crore Units
SEBON has approved the Rs. 1 Arba closed-end mutual fund "RBB Focus 40", sponsored by Rastriya Banijya Bank and managed by RBB Merchant Banking, to issue 10 crore units at Rs. 10 per unit.
The Securities Board of Nepal (SEBON) has officially approved the launch of the "RBB Focus 40" mutual fund scheme on Shrawan 23, 2082.
The scheme, with a total size of Rs. 1 Arba, is a closed-end mutual fund that will issue 10 crore unit shares at a par value of Rs. 10 per unit.
The fund is sponsored by Rastriya Banijya Bank Limited, Nepal’s largest government-owned commercial bank, and will be managed by RBB Merchant Banking Limited.
Being a closed-end fund, "RBB Focus 40" will be listed and traded on the Nepal Stock Exchange (NEPSE), allowing investors to buy and sell units in the secondary market after the initial offering.
Market participants expect the fund to target a diversified portfolio with a focus on growth-oriented stocks, aligning with its "Focus 40" strategy.