Sanima Capital Limited has launched the public offering of its open-ended mutual fund scheme, Sanima Flexi Fund, starting today, 6th Falgun 2081. The initial subscription window will conclude on 11th Falgun 2081, although if the fund does not reach full subscription, the ending date could be prolonged until 20th Falgun 2081. This marks the rollout of the inaugural open-ended mutual fund scheme under Sanima Mutual Fund, subsequent to receiving approval from the Securities Board of Nepal (SEBON) on 2nd Magh 2081.
Sanima Flexi Fund aims to provide versatile investment options for both individual and institutional investors. The fund’s total magnitude is Rs. 1 Arba (10 crore unit shares), with the first phase offering 4 crore units valued at Rs. 40 crores. Of this, 13% (1.3 crore units worth Rs. 13 crores) is designated for the fund sponsor, Sanima Bank Limited, while 2% (20 lakh units valued at Rs. 2 crores) is allocated for the scheme manager, Sanima Capital Limited. The remaining 2.5 crore units worth Rs. 25 crore are now accessible to the general public. Investors may apply for a minimum of 100 units and a maximum of 40,00,000 units.
As an open-ended mutual fund, units of Sanima Flexi Fund will not be traded on the secondary market. Instead, post-initial public offering (IPO), investors will have the option to buy and sell fund units continually through Sanima Capital and its appointed distributors, adhering to the stipulations of the Mutual Fund Regulation, 2067. Investors can subscribe to units via Sanima Capital’s office, designated bank branches, or online platforms like Mero Share, utilizing their linked bank accounts. Furthermore, a Systematic Investment Plan (SIP) is available for those interested in regular investments.
Sanima Capital Limited, a wholly owned subsidiary of Sanima Bank Limited, has been overseeing mutual funds in Nepal for the last nine years. It currently manages two closed-end mutual fund schemes: Sanima Large Cap Fund (SLCF) and Sanima Growth Fund (SAGF). Previously, it handled Sanima Equity Fund, which concluded its seven-year term, providing an estimated annualized return of 175% to investors.
