More than 34 thousand applicants apply for Nabil Balance Fund 2; mutual fund scheme stands fully subscribed

Nabil Balance Fund 2 had closed the public issue of 12 crore units mutual fund scheme worth Rs 1.2 arba from 3^rd Jestha, 2076. This mutual fund issue was opened since Baisakh 5. 2076. 

The mutual fund was issuing a total of 12 crore unit of ordinary shares worth Rs 1.20 arba at face value of Rs 10 per unit. Securities Board of Nepal (SEBON) had provided final nod to the public issue on Chaitra 10, 2075.

As per the issue manager, Nabil Investment, the issue has received a total of 34,128 application and the scheme has been fully subscribed. However, the final verified data has not been ascertained yet.

Nabil Balance Fund II is the Nabil Investment Banking Limited third mutual fund scheme, and is a 10-years closed-end fund. The scheme will be managed by Nabil Investment Banking Limited with Nabil Bank Limited as the fund sponsor.

Under the current mutual fund regulation, 15% units i.e. 1.80 crore units were reserved for fund manager and fund sponsor. Remaining 10.20 crore units were floated to the general public.

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

Nabil Investment Banking has already issued 2 mutual funds i.e. Nabil Balance Fund I (5 years) which is already matured and Nabil Equity Fund (7 years) ongoing.