Kathmandu. KATHMANDU: The Securities Board of Nepal (SEBON) has revised the seed capital arrangement of mutual funds. A meeting of the Board of Directors of SEBON held on Monday made changes in the arrangement of seed capital to make it easier for the project promoters and managers.

As per the collective fund regulations, the promoter and manager of the fund should have at least 15 percent seed capital of the total amount of the scheme. Sebon has reduced that provision.

“The meeting of the Board of Directors has decided that the seed capital can be kept at 10 and 5 percent on the basis of the experience of the managers. “But it is yet to be implemented,” said a SEBAN official. ’

Mutual funds have long been demanding changes to this system.