RBB starts issuing RBB Mutual Fund-1

Rastriya Banijya Bank (RBB) has started issuing the RBB Mutual Fund-1 from today. The fund manager of the mutual fund is RBB Merchant Bank and the fund promoter is Rastriya Banijya Bank.

The bank will be issuing 100 million units of the fund with each unit of the mutual fund priced at Rs 10. Meanwhile, 13 per cent of the total 100 million units have been allocated for the fund promoter Rastriya Banijya Bank and 2 per cent for fund manager RBB Merchant Bank. The remaining 85 million units will be distributed through public issues.

The deadline for investors to subscribe to the mutual fund is July 11. RBB Mutual Fund-1 is a closed-end fund and has a maturity period of seven years.