Mutual funds managed by NIC Asia Capital reports rise in NAV for Magh; Growth Fund and Balanced Fund report NAV of Rs 11.33 and 10.72 respectively

Tue, Feb 25, 2020 11:25 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.11.33 for the month of Magh 2076. The NAV stood at Rs.10.72 in the previous month.

The scheme, which began with a fund size of Rs.83.52 Crore, has invested Rs.57.79 Crore in the shares of listed companies and Rs.4.17 crore on non-listed companies. It has invested Rs.8.35 Crore in fixed deposit schemes. This scheme has Rs.19.58 Crore as bank balance and Rs 3.73 crore in debentures.

It has reported a net profit of Rs.10.97 crore till the month of Magh which previously was at Rs.5.91 crore at the end of Poush 2076.

Announcement

Similarly, NIC Asia Balanced Fund (NICBF), another 10-year mutual fund scheme managed by NIC Asia Capital has published financial highlights for the month of Magh. The NAV for the period was reported at Rs.10.72 up from previous months’ NAV of Rs.10.47.

The scheme began with a fund size of Rs.75.50 Crore including seed capital from fund sponsor. The scheme has invested Rs.30.05 Crore in shares of listed companies and Rs.8.36 Crore in debentures. Amount invested in fixed deposit stands at Rs.6.80 Crore while the bank balance stands at Rs.32.97 Crore.

By the end of Magh, the scheme has reported a net profit of Rs.5.41 crore compared to previous months’ net profit of Rs.3.54 crore.

Announcement