Five institutions get nod to function as fund managers of SIF

The Securities Board of Nepal (SEBON) has granted permission to five institutions to function as a fund manager for the proposed Specialised Investment Fund (SIF). It has directed these institutions to start setting up the necessary infrastructure for the fund.

The Securities Board of Nepal (SEBON) had introduced the Specialised Investment Fund Regulation, 2075, on March 6, 2019, which paved the way for equity funds, venture capitals and hedge funds to be established in the Nepali market. The regulation was implemented so as to expand and diversify the country’s capital market.

Of the nine applications received, SEBON has granted permission and directed Global Equity Fund, Laxmi Capital Market, NIBL Ace Capital, NIC ASIA Capital and NMB Capital to start setting up the necessary infrastructure.