Himalayan Capital to Launch its First Open Ended Scheme ‘Himalayan Dirghakalin Bachat Yojana’
April 4, 2024 | Investopaper
Himalayan Capital Limited is planning to launch an open ended scheme named “Himalayan Dirghakalin Bachat Yojana”. The fund manager is going to issue 10 crore units of its new mutual fund scheme. At a par value of Rs 10 per unit, the total issue size amounts to Rs 100 crores. The scheme will be operated under ‘Himalayan Mutual Fund’.
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For this purpose, as the fund manager, Himalayan Capital has submitted the application to the Securities Board Of Nepal (SEBON) on Chaitra 19, 2080 BS seeking approval. Only after the permission from the board, the company can sell the units to the general public.
Himalayan Bank is the promoter company of the Himalayan Mutual Fund. Hence, the bank along with the fund manager Himalayan Capital will purchase 15 percent or 1.5 crore units of the scheme. The general public can apply for the remaining 8.5 crore units worth Rs 85 crores.
‘Himalayan Dirghakalin Bachat Yojana’ is an open ended scheme. In an open-ended mutual fund, interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders.
Investing in a mutual fund can be a good strategy for most investors as it offers decent returns at a low level of risk. Mutual funds are managed by professional experts and provide wide diversification.
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