Prabhu Smart Fund received 1.55 times more applications

KATHMANDU: Prabhu Smart Fund received 1.55 times the demand. Prabhu Bank Fund Promoter and Prabhu Capital Fund Manager and Depository each received 12 lakh units out of a total of 80 million units issued by the fund.

Basu Thapaliya, Capital’s Chief Business Officer, stated that applications for the remaining 68 million units have been received from the general public since March 2 and are still being accepted today.

The aforementioned application is 1.55 times larger than the amount allotted to the general public.

Prabhu Smart Fund, a 10-year closed-end scheme, has been provided a CARE-NP AMC Quality 3 (AMC 3) rating by Care Nepal Limited.

Although Capital has issued a scheme named Prabhu Smart Fund worth 800 crores, if there is a demand for more units than issued, the units can be allocated by adding up to 25% of the number of units issued, according to the provision in sub-rule 4 of Rule 15 of the Collective Investment Fund Directive, 2069.

As a result of the agreement, Prabhu Smart Fund will distribute 1 billion units with seed capital.