Unit Sale of ‘Machhapuchhre SIP Plan’ Opens from Today

The unit sale of the ‘Machhapuchhre SIP Plan’, operated under the AMBL Mutual Fund, has officially opened from today. The plan is promoted by Machhapuchhre Bank and managed by Machhapuchhre Capital. In the first phase, applications have been invited for the issuance of a total of 2 crore units.

The total size of the scheme is 5 crore units. Out of this, 15 percent (75 lakh units) has been reserved for the fund promoter and the scheme manager. Within the reserved portion, 70 lakh units (14%) are allocated for Machhapuchhre Bank and 5 lakh units (1%) for Machhapuchhre Capital. The remaining units will be available for general investors.

Investors can apply for a minimum of 100 units and a maximum of up to 20 lakh units. Applications can be submitted through all branches of ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON).

The unit sale will close earliest on Mangsir 17 and latest by Mangsir 28 during banking hours. Machhapuchhre Capital will serve as the issue and sales manager for the scheme.

At a time when interest in mutual funds is rising among investors, the launch of the ‘Machhapuchhre SIP Plan’ is expected to provide a new investment alternative in the market.