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Wednesday, October 1st, 2014 - 10:16 PM
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Nubri Capital launches Tsukdey I

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Fund Management Company The country’s first fund management company, Nubri Capital, launched its first public investment product yesterday, guaranteeing an annual return of four percent.

Called Tsukdey I, the close-ended investment scheme also promises investors 70 percent of the profits the investment generates.

The fund (Nubri Capital) will take in an investment of not less than Nu 250,000 from either an institution, corporation or an individual, invest it in various companies and projects, and share the returns with the investor.

The fund’s chief executive officer, Sonam Tobgay, said the incentives are better than the ones offered by mainstream financial institutions.

The incentives differ, because returns on investments in institutions, such as a commercial bank in the form of deposits are fixed on an annual basis.

“Irrespective of how much money the banks make on your investment, they offer you a fixed interest rate at the end of the year,” Sonam Tobgay said. “In fund management, the returns are higher, if the profit is more from investments made.”

If there are more investors the cost of funds go down, which mean returns would be higher.

Nubri Capital has no reservations on the limited investment avenues the economy has to offer today. “We’re confident, that’s why we started the business in the first place,” Sonam Tobgay said.

He also said that Nubri Capital did not have any mandate, and was free to invest anywhere they wanted, by assessing risks and returns.

The fund has a total paid up capital of Nu 20M contributed by its five promoters.

 Nidup Gyeltshen 

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