Citizens Capital Limited has been issuing units of its mutual fund scheme, Citizens Balanced Scheme, to the public since Poush 4, with today, Poush 18, marking the final day to apply. The scheme has brought a total of 10 crore units to the market at a face value of Rs 10 per unit, amounting to Rs 1 arba.
Out of the total units issued, 1 crore 50 lakh units, equivalent to 15 percent of the total issue, have been reserved for the fund sponsor, Citizens Bank International Limited. The remaining 8 crore 50 lakh units have been made available to general investors.
The scheme allows investors to apply for a minimum of 100 units and a maximum of 1 crore units. It is a 10-year closed-end mutual fund operated under Citizens Mutual Fund and managed by Citizens Capital Limited.
Applications can be submitted through all banks and financial institutions participating in the C-ASBA system approved by the Securities Board of Nepal. Investors may also apply online through the ‘Mero Share’ system developed by CDS and Clearing Limited using the C-ASBA facility.
For the unit issue, ICRA Nepal has assigned an ICRANP Issuer Rating of ‘BBB+’ to the fund sponsor, while the scheme manager has received an ICRANP AMC Quality–3 Rating. The scheme is permitted to invest in securities registered and publicly issued with the Securities Board of Nepal, securities of organized institutions listed on the securities exchange, bonds issued by the Government of Nepal or government-backed institutions, treasury bills issued by Nepal Rastra Bank, money market instruments, bank deposits, and other sectors specified by the Board.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
