Citizens Mutual Fund-1 (CMF1), a closed-end mutual fund managed by Citizens Capital Limited and sponsored by Citizens Bank International Limited, is set to mature on Falgun 19, 2081 (March 2, 2025).
1. Fund Overview
The fund, which was launched as a seven-year investment scheme, will undergo liquidation and delisting from the Nepal Stock Exchange (NEPSE) as per regulatory requirements. Below are the key details of CMF1:
2. Liquidation and Delisting Process
- Regulatory Compliance:
- As per Clause 8.9 of the SEBON-approved prospectus and Clause 31(1)(a) of the Mutual Fund Regulation, 2067, the fund must be liquidated upon maturity.
- An application has been submitted to delist CMF1 from NEPSE at least one month before maturity, as per Clause 31(8) of the Mutual Fund Regulation, 2067.
- Secondary Market Transactions: All trading of CMF1 units will cease after delisting.
3. Investor Payout Process
- Notification: Unitholders will receive official notifications regarding the redemption process and fund distribution timelines.
- Redemption: Investors will receive payouts based on the net asset value (NAV) of the fund at the time of liquidation.
- Timeline: The payout process will commence after delisting, with details to be communicated by Citizens Capital Limited.
4. What Investors Need to Do
- Stay Informed: Keep an eye on official updates from Citizens Capital Limited for details on the payout process.
- Verify Details: Ensure your contact information is up-to-date with the fund manager to receive timely notifications.
- Plan Ahead: Prepare for the redemption process and consider reinvestment options if needed.
Conclusion
Citizens Mutual Fund-1 (CMF1) is nearing its maturity date and will be liquidated and delisted from NEPSE on Falgun 19, 2081 (March 2, 2025). Investors will receive payouts based on the fund’s net asset value (NAV) after the delisting process is completed. Unitholders are encouraged to stay informed through official updates from Citizens Capital Limited regarding the redemption process and fund distribution timelines.