Sunday, September 2, 2012

NMB Mutual Fund in offing


Securities Board of Nepal (Sebon) — the capital market regulator — awarded the licence to operate Mutual Fund to NMB Bank.
"The bank is also preparing to apply for the supervisory for the mutual fund," said chief executive of NMB Bank Upendra Poudel. The NMB Bank's subsidiary NMB Capital is also planning to apply for the licence for the Fund Manager and Depository soon.
"The bank is also preparing to bring the Mutual Fund in a month after it gets all the necessary permission from the capital market regulator," he said, adding that it is offering different schemes ranging from Rs 500 million to Rs 1 billion targetting small and big investors.
The NMB Capital is also focusing on human resources and infrastructure development to bring the Mutual Fund that is expected to bring some confidence in investors as their funds will be managed by the professionals and will be safer than they individually invest.
There are some other banks like Nabil Bank, Siddhartha Bank and Laxmi Bank that are planning to launch Mutual Funds soon.

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