NAV rises for Shrawan for NIC Asia Growth Fund (NICGF) and NIC Asia Balanced Fund (NICBAL)
Sun, Aug 30, 2020 9:43 AM on Latest, Mutual Fund, Stock Market,
NIC Asia Growth Fund (NICGF), a closed-end 7 years mutual fund scheme managed by NIC Asia Capital Limited with NIC Asia Bank Limited as the fund sponsor, has published its monthly NAV report with its NAV reported at Rs. 11.98 for the month of Shrawan 2077. The NAV stood at Rs. 11.75 in the previous month.
The scheme, which began with a fund size of Rs.83.52 Crore, has invested Rs. 59.71 Crore in the shares of listed companies and Rs. 1.65 Crore on non-listed companies. It has invested Rs. 10.85 Crore in fixed deposit schemes. This scheme has Rs. 24.31 Crore as bank balance and Rs 2.25 Crore in debentures.
It has reported a net profit of Rs. 6.4 Crore till the month of Shrawan which previously was at a profit of Rs. 14.51 Crore at the end of Ashad 2077.
Similarly, the NIC Asia Balanced Fund (NICBAL), another 10-year mutual fund scheme managed by NIC Asia Capital has published financial highlights for the month of Shrawan. The NAV for the period was reported at Rs. 11.25 up from previous months’ NAV of Rs. 11.08.
The scheme began with a fund size of Rs.75.50 Crore including seed capital from fund sponsor. The scheme has invested Rs. 40.72 Crore in shares of listed companies and Rs. 9.68 Crore in debentures. Amount invested in fixed deposits stands at Rs. 8.8 Crore while the bank balance stands at Rs. 22.06 Crore.
By the end of Shrawan, the scheme has reported a net profit of Rs. 3.22 Crore compared to previous months’ net profit of Rs. 8.12 Crore.
