September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.

The three funds are NMB Hybrid Fund L-1, NMB Hybrid Fund H-1 and NMB Hybrid Fund M-1. “We have sent the proposal to Sebon. We will be able to launch all three of the schemes after about two months,” said NMB Capital’s CEO Srijesh Ghimire.

The schemes will have NMB Bank as its promoter and NMB Capital as its manager.

According to NMB Capital, the L-1 Fund will have Rs 600 million, H-1 will have Rs 20.8 million and M-1 will have Rs 400 million.

This is the first time that a mutual fund has been rated according to level of risk, in Nepal. According to the rating, ‘L’ funds have the least level of risk and ‘H’ funds have the highest level of risk associated with them.