Nepal Life Insurance opens 160m units for mutual fund after SEBON approval

KATHMANDU: The mutual investment fund Nepal Life Samriddhi Lagani Yojana, promoted by Nepal Life Insurance Company and managed by Nepal Life Capital, is set to open units for public sale after receiving regulatory approval.

The Securities Board of Nepal (SEBON) approved the fund on December 28, authorising an issue worth Rs 1.6 billion, comprising 160 million units at a face value of Rs 10 per unit.

This is the first closed‑ended scheme launched by Nepal Life Insurance Company and has a duration of 10 years. ICRA Nepal has assigned the fund sponsor a rating of [ICRANP‑IR] AA‑, indicating a high degree of safety regarding timely servicing of financial obligations, and has given the scheme manager an [ICRANP] AMC Quality 3 (AMC3) rating, denoting adequate assurance on management quality.

The company said the capital raised from the fund sale will be invested, after issuance, in securities registered with SEBON, publicly issued securities, securities listed on the stock market, bank deposits, money market instruments, bonds issued by the Government of Nepal or entities under its control, treasury bills and other money market instruments.

The scheme manager said that, once all procedures are completed, the units will be opened for sale to the general public.