Himalayan Investment Banker Launches ‘HLI Large Cap Fund’ from Today

Kathmandu — Himalayan Investment Banker Limited has launched the ‘HLI Large Cap Fund’ from today (Bhadra 15). This is the company’s first closed-end scheme under the Himalayan Life Insurance Mutual Fund.

The company is issuing 400 million units worth NPR 4 billion at a par value of NPR 10 per unit. Out of this, 50% — i.e., 200 million units worth NPR 2 billion — has been secured for the fund promoter, Himalayan Life Insurance. The remaining minimum 200 million units worth NPR 2 billion are being issued to the general public.

Investors can apply for the fund’s units until Bhadra 18. If sufficient applications are not received within this period, the deadline will be extended until Bhadra 29.

Applications must be for a minimum of 100 units and can go up to a maximum of 40 million units. However, if the minimum required subscription is not met, the scheme will be canceled and applicants’ money refunded within 15 days.

The scheme will have a tenure of 10 years from the date of allotment. Himalayan Investment Banker Limited itself is the issue and sales manager for the fund.