Have you applied for NMB50 equity-focused Mutual Fund? Take a look before you do; All information you need in one place

Aug Fri 2019 11:01:49


Have you applied for NMB50 equity-focused Mutual Fund? Take a look before you do; All information you need in one place

Company Profile

NMB Capital Limited's new mutual fund scheme “NMB50” is promoted by NMB Bank and managed by NMB Capital.

NMB Bank Limited (NMB) was established on Poush 04, 2053 as ‘C-class’ financial institution, which upgraded to ‘A-class’ commercial bank on Baisakh 24, 2065. The bank’s 17 percent stake lies with FMO Netherlands and this company has been rated as AAA by S&P and Fitch. Apart from FMO, the other institutional investor includes Employee Provident Fund, Young Lean Realty (Malaysia) Holding Realty (with 5% stake) and other individual shareholders from business houses of Nepal. Over the years it has gone through merger and acquisition will the following institutions:

  1. Clean energy development bank
  2. Bhrikuti Development bank
  3. Pathibhara Bikas Bank
  4. Prudential Finance company

Currently NMB bank has a network of 110 branches all over the country along with 4 extension counter and numerous branchless banking units.

NMB Capital is a wholly-owned subsidiary of NMB Bank Limited. At present, NMB Capital is involved in fund management, issue management, underwriting, share registration, private placement, financial advisory services, depository and asset management services. NMB Capital has an MF depository license as well as a fund manager license from Securities Board of Nepal (SEBON; as per the Mutual Fund Regulation, 2010) and is currently acting in both capacities with respect to its two close ended MF schemes i.e. NMBSF1 and NMBHF1. Moreover, NMB Capital has obtained membership from CDS and Clearing Limited (a central depository company).

About the issue

NMB 50, managed by NMB Capital Limited and sponsored by NMB Bank Limited is floating its public issue of 12 crore units mutual fund scheme worth Rs 1.2 arba from Shrawan 13, 2076.

The early closing date of this mutual fund issue is on Shrawan 16, 2076 if the issue got over subscription or else this issue can be extended up to Bhadra 10, 2076.

NMB 50 is the NMB Capital Limited third mutual fund scheme, and is a 7-years closed-end fund which will be listed on NEPSE for trading. Under the current mutual fund regulation, 15% units i.e. 1.80 crore units are reserved for fund manager and fund sponsor. Remaining 10.20 crore units will be floated to the general public.

Interested people must apply for a minimum of 100 units and they can apply for maximum 1.2 crore units. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country.

NMB Capital Limited is a subsidiary of NMB Bank Limited licensed by SEBON to provide merchant banking, issue management, corporate advisory, underwriting and mutual fund services.