First open ended mutual fund after the implementation of Mutual Fund Regulation, 2067 to hit market from Jestha 19; NIBL Ace Capital to sell 1.25 crore units at first stage

NIBL Sahabhagita Fund, managed by NIBL Ace Capital Limited and sponsored by Nepal Investment Bank Limited is floating its public issue of 1.25 crore units mutual fund scheme worth Rs 12.50 crore from Jestha 19, 2076.The early closing date of this mutual fund issue is on Jestha 22, 2076; if the issue got over subscription or else this issue can be extended up to Ashad 16, 2076.

NIBL Sahabhagita Fund is a first open ended mutual fund after the implementation of Mutual Fund Regulation, 2067 by Securities Board of Nepal (SEBON). SEBON had already provided final nod to this public issue.

This fund will be issuing a maximum 5 crore units worth Rs 50 crore at face value of Rs 10 per unit. Initially at first stage, the fund will be issuing only 1.25 crore units worth Rs 12.5 crore to general public and 15% of total fund i.e. 75 lakhs units worth Rs 7.5 crore is reserved to fund sponsor NIB Bank and fund manager NIBL ACE Capital Limited as a seed capital.

Interested people must apply for a minimum of 100 units and they can apply for maximum 2.5 lakh units. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country.

NIBL Sahabhagita Fund  is the NIBL Ace Capital Limited third mutual fund scheme, and is first open-ended fund. This fund is not tradable at Nepal Stock Exchange like other close ended fund and has no fixed maturity period and can be bought/sold directly from/to fund sponsor or fund manager .

NIBL Ace Capital Limited is a subsidiary of Nepal Investment Bank Limited licensed by SEBON to provide merchant banking, issue management, corporate advisory and mutual fund services.

NIBL Ace Capital Limited has already issued 2 mutual funds i.e. NIBL Sambriddhi Fund 1 which is a 7 years close ended fund with issue size of Rs 1 arba and NIBL Pragati Fund which is also a 7 year close ended fund with issue size of Rs 75 crore..

Currently, there are 13 mutual fund schemes in the market and all are listed in Nepal Stock Exchange.

Also see;

Do Nepalese investors really want to change their investment taste with other investment option?

Open-ended mutual funds, a new financial weapon in Nepali capital market; SEBON states the specialties of an open-ended fund

SEBON approves 'NIBL Sahabhagita Fund'; First open ended mutual fund testing the waters of Nepali Capital Market