Nepal Investment Bank Ltd (NIBL), the bank, with more than 36 years of successful operation and one of the leading banks of Nepal, has registered “NIBL Mutual Fund” as Fund Sponsor in the Securities Board of Nepal (SEBON) with the objective of operating different mutual fund schemes in Nepali capital market.
NIBL Ace Capital, the fund manager and depository of the scheme, is a wholly owned subsidiary company of NIBL and is licensed by SEBON as a Merchant Banker with more than 10 years of successful operation. NIBL Ace Capital is also one of the leading merchant and investment banker.
With the approval of SEBON on December 4, 2022, NIBL Mutual Fund is launching “NIBL Growth Fund” (NIBLGF) the fifth mutual fund scheme under the fund. The scheme aims to carry forward the trust and legacy built for all the mutual fund schemes.
NIBLGF is a Closed-End Mutual Fund Scheme with a corpus size of Rs 1.6 billion and a maturity period of 10 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 20.25% of effective annual returns. NIBL Ace capital is the fund manager and depository of the scheme. The Capital has been following a disciplined and process-oriented investment approach to create value for its unit holders.
The issue will open on December 22, 2022, with an early closing date on December 27, 2022, and late closing date on January 5, 2023. Investors (individuals and institutions) can invest in the scheme with minimum investment amount of Rs 1,000 and maximum of Rs 1.60 billion. The prospectus of the scheme approved by SEBON which contains detailed information related to the scheme is available on the website of NIBL Ace Capital and SEBON. Applicants can submit their duly filled application via C-ASBA from their bank account or Mero Share.
Currently, two closed-end schemes — “NIBL Pragati Fund” and “NIBL Samriddhi Fund-II” and one open-ended the scheme, “NIBL Sahabhagita Fund” are operating under this fund. NIBL Samriddhi Fund-I, NIBL Mutual Fund’s first scheme, has been successfully redeemed after seven years of successful operation. It has distributed total cash dividends of 98.50% to its unitholders, which is equivalent to around 18% effective rate per annum. As a pioneering 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 NIBLGF will be listed and traded in Nepal Stock Exchange (NEPSE).
