Siddhartha Capital’s mutual funds suffered massive losses in the Mangsir stock market.

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During the month of Mangsir, the net asset value (NAV) of Siddhartha Equity Fund (SEF), a closed-end 10- mutual fund managed by Siddhartha Capital Limited, fell.

According to the financial report published today, the mutual fund scheme’s net asset value (NAV) as of Mangsir end, 2077, was Rs. 12.34, down from Rs. 14.16 the previous month, according to the financial report.

After starting with a total sum of Rs.1.50 Arba, the program has so far invested Rs.1.51 Arba in listed and Rs.4.41 crores in public issues, right shares, and bonus shares. The scheme has made investments in and debentures of Rs. 6.29 crore and fixed worth Rs. 18 crore.

The bank account for this scheme currently has Rs. 5.4 crores in it. SEF has reported a net loss of Rs. 21.11 crores for the month of Mangsir so far this fiscal year. The profit for the previous month was Rs. 6.19 crores.

Announcement

For the month of Mangsir, the net asset value (NAV) of the Siddhartha Investment Growth Scheme 2 (SIGS2), a closed-end 10- mutual fund administered by Siddhartha Capital Limited, fell.

A financial report published today shows that the NAV of the mutual fund scheme was Rs. 12.6 as of the end of Mangsir in 2077, according to the report. In the previous month, it was priced at Rs. 14.51.

It has invested Rs. 1.23 Arba in listed and Rs. 3.01 crores in public issues, right shares, and bonus shares since its inception, with a total fund of Rs.1.20 Arba at the start of the scheme’s first year. The plan has made investments in and debentures of Rs. 1.89 crores and fixed deposits worth Rs. 18 crores. There is Rs. 4.97 crores in the bank account for this scheme.

SIGS2 has also declared a net loss of Rs. 16.18 crores for the month of Mangsir, according to the company’s financial statements. In the month before that, the company earned Rs. 6.81 crores in profit.

Announcement

The NAV report for the Siddhartha Systematic Investment Scheme has also been released. This is Siddhartha Capital’s fifth mutual fund scheme, with two of the previous already having reached maturity. In addition to the open-ended funds, the Siddhartha Equity Fund (SEF) and the Siddhartha Investment Growth Scheme 2 (SIGS2) are both closed-ended funds that are now traded on the NEPSE.

Because it is an open-ended fund, SSIS allows investors to enter and quit the scheme at any time following the completion of the New Fund Offer (NFO), which took place on July 4, 2018. The amount of units that can be distributed under the system is not restricted under any circumstances. When an investor makes a contribution to the fund, the number of units in the scheme grows as a result of the contribution. However, this also means that the fund will no longer be traded on the NEPSE exchange as well.

In Mangsir, the fund has recorded a net asset value (NAV) of Rs. 9.35. The NAV was Rs. 10.05. In the month before that, it was Rs. 10.05.

The fund has made investments in listed worth Rs. 7.97 crores and in public issues worth Rs. 17.96 lakhs. The fund now contains Rs. 3 crores in fixed deposits and Rs. 21.43 crores in and debentures. The fund currently has a bank balance of Rs. 7.68 crores.

During the month of Mangsir, the fund suffered a loss of Rs. 1.3 crores. It had made a profit of Rs. 10.45 lakhs in the preceding calendar month.

 

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