Himalayan Investment Banker Limited is set to unveil a new mutual fund initiative called “HLI Large Cap Fund.” To facilitate this, the fund manager has filed an application with the Securities Board of Nepal (SEBON) on Shrawan 11, 2082 BS, seeking approval to offer the units to the investing public.
The close-ended initiative “HLI Large Cap Fund” will function under the aegis of “Himalayan Life Insurance Mutual Fund.” The fund manager intends to release 40 crores units at a nominal value of Rs. 10. Therefore, the overall issue totals Rs. 400 crores.
Only after receiving consent from the regulatory authority SEBON will the mutual fund initiative be made available to the wider public.
From the overall public offering, 15 percent or 6 crore units of the fund will be acquired by Himalayan Life Insurance Limited, the promoter of the mutual fund, and Himalayan Investment Banker Limited, the fund manager of this initiative.
Following the allocation of the scheme, it will be listed and traded on the Nepal stock exchange
