SEBON Approves Siddhartha Systematic Investment Plan Worth Rs. 2.20 Billion
SEBON has approved Siddhartha Capital's "Siddhartha Systematic Investment Plan," allowing the issuance of 22 crore mutual fund units worth Rs. 2.20 billion.
The Securities Board of Nepal (SEBON) has approved the issuance of the Siddhartha Systematic Investment Plan (SIP), a mutual fund scheme worth Rs. 2.20 billion.
Under the approval, the closed-end mutual fund will issue 22 crore units at a par value of Rs. 10 per unit. The fund is sponsored by Siddhartha Bank Limited, while Siddhartha Capital Limited has been appointed as the fund manager.
The approval marks another addition to Siddhartha Capital's mutual fund portfolio. With this scheme, the company continues to strengthen its presence in Nepal's collective investment market.
Currently, Siddhartha Capital manages three closed-end mutual funds and one open-end mutual fund, making it one of the leading asset management companies in Nepal.