Citizens Mutual Fund 1 is issuing 100 million units of mutual fund units worth Rs 1 billion to the general investors from January 16.
According to the CBIL, the fund that has seven years of maturity time will yield 22.5 percent annual return. Citizens Mutual Fund is the first mutual fund of CBIL Capital. The accumulated fund will be invested in the stock market.
The interested investors can apply for a minimum of 100 units and a maximum of 2 million mutual fund units through all ASBA registered BFIs.
CBIL Capital has secured 15 percent of the mutual fund units to Citizens Bank International. The remaining 85 million will be allocated to the general public.
Securities Board of Nepal (SEBON) approved the mutual fund on January 2.
