Kathmandu : Citizens Capital is set to open the sale of units of its closed-end mutual fund scheme, Citizens Super 50, from Mangsir 2, according to the Nepali calendar.
The scheme will issue a total of 100 million units at a face value of Rs 10 per unit. Of the total issue, 15 percent, equivalent to 15 million units, has been allocated to the fund promoter, Citizens Bank International. The remaining 85 million units will be offered to the general public.
Investors can apply for a minimum of 100 units and a maximum of 10 million units. This means individuals can invest in the scheme with an initial amount of Rs 1,000.
The public subscription period is scheduled to run until Mangsir 7. If the issue does not receive sufficient applications within the initial period, the deadline may be extended until Mangsir 16.
Citizens Capital will serve as both the scheme manager and depository.
Through the closed-end mutual fund scheme, the company plans to collect Rs 850 million from the general public.
The fund offers investors an opportunity to participate in a professionally managed investment scheme. However, as with other mutual funds, returns are not guaranteed and depend on the performance of the fund’s underlying investments.
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