Muktinath Capital Accused of Misleading Investors: Selling Mutual Fund Units as Ordinary Shares
Muktinath Capital has been accused of misleading investors by selling units of 'Muktinath Mutual Fund 2' under the guise of ordinary shares. Hundreds of investors were allegedly duped because the Mero Share platform displayed 'Ordinary Share' directly below the fund's name during application.
Kathmandu – Muktinath Capital has been accused of misleading investors by selling mutual fund units as ordinary shares. The capital had launched 'Muktinath Mutual Fund 2' on Asoj 1, but it allegedly misled investors by promoting the fund as ordinary shares.
When applying through the Mero Share platform, the term 'Ordinary Share' appeared directly below the fund's name. Due to this confusion, hundreds of investors purchased the mutual fund units believing them to be ordinary shares.
In recent times, investor interest in mutual funds has been declining. Experts allege that, seeing the fund would not sell, the capital attempted to collect funds by presenting the mutual fund as ordinary shares.
This incident has raised serious questions about transparency in the mutual fund market and regulatory oversight. There are growing demands for immediate investigation by bodies such as the Securities Board of Nepal (SEBON) to protect investor interests.