NAV and Net Profit rise for NIC Asia Growth Fund (NICGF) and NIC Asia Balanced Fund (NICBAL) in Ashwin

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. 11.74 for the month of Ashwin 2077. The NAV stood at Rs. 11.48 in the previous month.

The scheme, which began with a fund size of Rs.83.52 Crore, has invested Rs. 70.58 Crore in the shares of listed companies and Rs. 44.56 lakhs on non-listed companies. It has invested Rs. 10.85 Crore in fixed deposit schemes. This scheme has Rs. 12.59 Crore as bank balance and Rs 2.25 Crore in debentures.

It has reported a net profit of Rs. 14.38 Crore till the month of Ashwin which previously was at a profit of Rs. 12.2 Crore at the end of Shrawan 2077.

Announcement

Similarly, the NIC Asia Balanced Fund (NICBAL), another 10-year mutual fund scheme managed by NIC Asia Capital has published financial highlights for the month of Ashwin. The NAV for the period was reported at Rs. 11.20 from previous months’ NAV of Rs. 11.01.

The scheme began with a fund size of Rs.75.50 Crore including seed capital from the fund sponsor. The scheme has invested Rs. 48.82 Crore in shares of listed companies and Rs. 9.68 Crore in debentures. Amount invested in fixed deposits stands at Rs. 8.8 Crore while the bank balance stands at Rs. 15.54 Crore.

By the end of Ashwin, the scheme has reported a net profit of Rs. 8.75 Crore compared to previous months’ net profit of Rs. 7.25 Crore.

Announcement