Laxmi Capital’s mutual funds have seen an increase in their net asset value (NAV) and profitability.

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The NAV of Laxmi Equity Fund (LEMF), a closed-end 7-year equity-oriented mutual fund scheme managed by Laxmi Capital Market Limited, has increased to Rs. 12.46 from Rs. 12.27 in the month of Kartik, according to the fund’s latest quarterly report.

With an initial fund size of Rs.1.25 Arba, the scheme has grown to include investments in shares of various firms worth Rs. 93.79 crores.

During the fiscal year 2015-16, LEMF invested Rs 47.14 lakhs in initial public offers (IPOs) and Rs 5.41 crores in bonds and debentures. This mutual fund has Rs. 16.5 crores in fixed deposits and a bank balance of Rs. 39.35 crores, according to the latest available information.

It has posted a net profit of a little than Rs. 25.58 crores so far in the Kartik financial year. The company made a profit of Rs. 23.23 crores in the preceding month.

Announcement

Laxmi Capital Market Limited has also released the Laxmi Unnati Kosh (LUK) financial report for the month of Kartik, which was previously unavailable. The net asset value (NAV) for the month of Kartik is Rs. 12.53. In the preceding month, the NAV was Rs. 12.35 per share.

The fund has made investments in shares worth Rs. 50.12 crores and in public issues worth Rs. 24.67 lakhs. Even though the fund has a bank balance of Rs. 23.28 crores, it has made an investment of Rs. 4.5 crores in fixed deposits. In addition, the fund holds 3.66 crores in debentures.

During Kartik, Laxmi Unnati Kosh reported a net profit of Rs. 16 crores, which is an increase over the previous month. The previous month’s net profit was Rs. 14.84 crores, which was a record high.

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