136 million units have been issued to the general public.
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The sale of units of the 'Nepal Life Samriddhi Investment Scheme' collective investment fund, promoted by Nepal Life Insurance Company Limited and managed by Nepal Life Capital Limited, has been opened from Sunday.
After the approval of the Nepal Securities Board, a total of 160 million units worth Rs 1.6 billion have been issued at a face value of Rs 10 per unit.
15 percent of the total units have been reserved as seed capital. Out of which 14 percent (22 million units) has been allocated to Nepal Life Insurance and 1 percent (1.6 million units) to Nepal Life Capital. The remaining 136 million units have been issued to the general public.
The period of this closed-end scheme, which can be applied for from a minimum of 100 units to a maximum of 16 million units, will be 10 years from the date of unit allocation. Applications can be made until Magh 8. Capital has stated that applications can be made through the C-ASHWA system through banks and financial institutions participating in the ASHA service and 'Mero Share'.
ICRA Nepal has given a 'Double A Minus' rating to this fund promoter.
