Kathmandu, Sept. 9
The Securities Board of Nepal (SEBON) has brought
the amended Mutual Fund Bylaws 2020 into application from Wednesday.
It has an amended provision to record the exit fee
charged while the fund manager repurchases the open-ended mutual fund units
under the fund's income.
Earlier such income was recorded by the managers.
The SEBON believes that the new provision will
strengthen the investors’ fund and will help in getting higher income.
Likewise, it has revised the provision to get
approval from the board while appointing the fund manager and auditor of the
mutual fund and allowed to appoint them by just informing the capital market
regulator.
Issuing a statement on Wednesday, the SEBON said
that the new provision would help to increase the income of the mutual funds.
Published in The Rising Nepal daily on 10 September 2020.
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