Public issue of “NIBL Stable Fund” under “NIBL Mutual Fund”

BFIS News
2024 Jan Mon 19:03

Kathmandu, 15th Jan: Nepal Investment Mega Bank Ltd. (NIMB)- truly a Nepali Bank, with more than 37 years of successful operation and one of the leading banks of Nepal, has registered “NIBL Mutual Fund” as Fund Sponsor in Securities Board of Nepal (SEBON) with an objective to operate different Mutual Fund Schemes in Nepalese Capital Market. NIMB Ace Capital Ltd. the Fund Manager & Depository of “NIBL Mutual Fund”, is a wholly owned subsidiary company of NIMB and is licensed by SEBON as Merchant Banker with more than 10 years of successful operation. NIMB Ace Capital Ltd. is also one of the leading Merchant and Investment Banker.

With approval of SEBON on 21/08/2080, NIBL Mutual Fund is launching " NIBL Stable Fund" from today. It would be the sixth mutual fund scheme under NIBL Mutual fund. The Scheme is aiming to carry forward the trust and legacy built for all the Mutual Fund scheme before. " NIBL Stable Fund" is a Closed End Mutual Fund Scheme with corpus size of NPR. 1 Billion and maturity period of 12 years. The primary objective of the scheme is to provide steady returns to its unit-holders over the maturity period by mitigating market risks and it has also projected to provide 16.18% of effective annual returns. NIMB Ace capital Limited is the Fund Manager and depository of scheme. The Capital has been following disciplined and process oriented investment approach to create value to its unitholders.

The issue will open on January 16, 2024(Magh 02, 2080) with early closing date on January 19, 2024(Magh 05, 2080) and late closing date on January 30, 2024(Magh 16, 2080) . Investors (Individual & Institutions) can invest in the scheme with minimum investment amount of NPR 1,000 and maximum of NPR 100 Million. The prospectus of scheme approved by SEBON which contains detailed information related to the Scheme are available in the website of NIMB Ace Capital Ltd(www.nimbacecapital.com) and SEBON (www.sebon.gov.np). Applicants can submit their duly filled application via C-ASBA from their bank account or Mero Share.

Currently, three Closed End schemes i.e" NIBL pragati fund" , " NIBL Samriddhi Fund-II" and “NIBL Growth Fund” and one Open Ended Mutual Fund Scheme,"NIBL Sahabhagita fund" are operating under “NIBL Mutual Fund”. NIBL Samriddhi Fund-I, NIBL Mutual Fund’s first scheme, has been successfully redeemed after the 7 years of successful operation. It has distributed total cash dividends of 98.50% to its unit-holders, which equivalent to around 18% effective rate per annum. As a pioneer move NIBL Mutual Fund has launched NIBL Sahabhagita Fund, the first ever open ended mutual fund scheme in Nepal after Mutual Fund Regulation 2067.

The units of NIBL Stable Fund will be listed and traded in Nepal Stock Exchange Ltd. (NEPSE)