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KATHMANDU: Two mutual funds are to be introduced at a time when the share market is showing signs of improvement.
Promoted by Sanima Bank and Laxmi Bank, these mutual funds are equivalent to a total Rs 1.80 billion, the Securities Board Nepal (SEBON) stated.
The mutual fund promoted by Sanima Bank and dubbed as ‘Sanima Large Capital Fund’ is worth one billion rupees.
A total of 100 million units of the fund would be sold.
Likewise, the Laxmi Unnati Kosh, the mutual fund promoted by Laxmi Bank is worth Rs 800 million and a total of 80 million units of it would be sold.
It is said these mutual funds are under consideration of SEBON and permission for their sale would be granted soon.
Nineteen mutual funds are being traded in the Nepal Stock Exchange (NEPSE) at present.