Siddhartha Investment Growth Scheme-1, a closed-end 5 years mutual
fund scheme managed by Siddhartha Capital Limited, has reported a net
asset value (NAV) of Rs 11.87 for the month of Bhadra, up from 11.79
posted in the previous month.
The scheme, which began with a total fund of Rs 50 crore, invested Rs 50.23 crore in listed shares, Rs 2.39 crore in public issues and Rs 44.5 thousand on other share investments in Bhadra.
The scheme recorded an earning of Rs 2.70 crore in Bhadra, up from Rs 2.29 crore reported in Shrawan.
However, the scheme is undervalued in the market as it been hovering around Rs 10 per unit for a long time, which is below NAV.
It closed at Rs 10.4 at NEPSE yesterday.
The mutual fund operators say that lack of awareness among the investors among the benefits of such schemes is one of the major reasons behind it.
“As mutual fund is a new concept in Nepal, most of the investors lack the knowledge and skill to invest in such schemes for better returns,” an official at Siddhartha Capital limited told ShareSansar.com.
“Another reason is that a lot of investors who usually look for immediate profits from scrip are not much interested in mutual funds as these close-end scheme are basically meant for longer term investment,” he added.
Among the two mutual funds listed in the share market, Nabil Balanced Fund is also trading below par due to similar reasons.
-sharesansar
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