The RBB Focus 40 mutual fund scheme opened for applications on Bhadra 15, with the original closing date set for as early as Bhadra 22. Now, RBB mutual fund has extended the application deadline for purchasing units of the RBB Focus 40 scheme.
National Commercial Bank is the sponsor of the fund, while RBB Merchant Banking is managing the scheme. The plan is issuing 10 crore units. Out of this, 14 percent, or 1 crore 40 lakh units, is reserved for the seed plan manager. The remaining 8 crore 50 lakh units are available for the general public. From the public portion, 1 percent is also reserved for the plan manager.
Why RBB Focus 40 mutual fund scheme deadline extended?
Due to lower-than-expected applications, the deadline has now been extended to Asoj 1. However, if demand exceeds the available units before that date, the sale will close early.
Investors can apply for a minimum of 100 units and a maximum of 1 crore units. Applications can be submitted through any ASBA member bank or financial institution approved by the Nepal Securities Board that provides ASBA services.
RBB Merchant Banking is the issue and sales manager for the scheme.
