NIBL Ace Capital Limited, one of the Nepal’s leading merchant banking company and a subsidiary of Nepal Investment Bank Limited has announced the launch of open ended fund i.e. “NIBL Sahabhagita Fund” which is the first open ended fund of the country.
It has been designed under the NIBL mutual fund as the first ever open ended mutual fund schemes after the implementation of the mutual fund regulation, 2067 and mutual fund Guidelines, 2069 issued by SEBON.
According to the information, the fund has approved size of NPR. 5OO millions. Initially, 125 million will be issued as new fund offer (NFO) to general public, and 75 million will be provided to fund sponsor Nepal Investment Bank and NIBL Ace Capital Limited.
The investors must apply a minimum of 100 units and maximum of 2.5 lakh units at par value of Rs.10 Per unit. They can apply through ASBA approved banks from all 77 districts across the country and from MERO share as well.
The NFO will be opened for subscription from June 2, 2019.
The Scheme will invest its fund in the Securities that are listed in the NEPSE. The fund is managed by the NIBL Ace Capital Limited and will be open for Subscription and redemption of units after three months from allotment, initially from the premises of NIBL Ace Capital Limited, Uttardhoka, Lazimpat, selected branches of NIBL and prescribed distribution agents.