Nabil Balance Fund to mature on Chaitra 29; Nabil Investment Banking to start winding up procedures
Thu, Mar 29, 2018 8:07 AM on Latest, Mutual Fund, Mutual Fund, Featured,
Nabil Investment Banking Limited has published a notice about the upcoming maturity of its Nabil Balance Fund. It is a close-ended 5 years mutual fund scheme of Rs 75 crore managed by Nabil Investment Banking Limited, whereas sponsored by Nabil Bank Limited. The allotment of the mutual fund was completed on Chaitra 30, 2069. The mutual fund scheme is to mature on Chaitra 29, 2074.
The fund has published its monthly report for Falgun, 2074 according to which its NAV stands at Rs 17.80. As per the report, the fund has made an investment of Rs 31.59 crore in 53 listed companies’ shares, Rs 11.44 crore in listed debentures and Rs 9.69 crore in non-listed shares. At the end of its maturity period, the fund needs to sell all the shares, debentures and non-listed shares and to proportionally distribute the amount to the unit holders.
As per the notice, the transaction of the mutual fund in the secondary market will be suspended after the maturity period.As per the regulations, the mutual fund can refund the money to the unit holders within 3 months after the mutual fund matures. Hence, the fund can sell its shares and refund the amount to the shareholders within Asadh, 2075.
Notice
