NBF-1 NAV nudges to 16.74, SIGS1 climbs to 18.49

ShareSansar, June 29:

Nabil Balanced Fund-1, a closed-end 5 years mutual fund scheme managed by Nabil Investment Banking Limited, has reported that its net asset value (NAV) has risen to Rs 16.74 in Jestha, up from 15.28 posted in Baisakh.

The growth the mutual fund witnessed over the month is attributed to the overall rally in the market, more than other factors such as better understanding of such schemes and the dividend the scheme is pledging, which is better than the pledged amount.

The scheme, which began with a total fund of Rs 50 crore, invested Rs 85.66 crore in listed shares, Rs 11.44 crore in bonds as well as Rs 3.26 crore in unlisted shares and Rs 2.50 crore in fixed deposits in Jestha.

The scheme recorded an earning of Rs 51.96 crore in Jestha, up from Rs 40.68 crore reported in Basisakh. However, the scheme is undervalued in the market as it been hovering around Rs 14 per unit, which is below the NAV. It closed at Rs 14.05 at NEPSE during the last trading day on Thursday.

Likewise, Siddhartha Investment Growth Scheme-1, a closed-end 5 years mutual fund scheme managed by Siddhartha Capital Limited, has reported NAV of Rs 18.49 for the month of Jestha, up from Rs 17.24 posted in the previous month.

The scheme, which began with a total fund of Rs 50 crore, invested Rs 84.91 crore in listed shares, Rs 2.74 crore in public issues and Rs 15.6 thousand on other share investments in Jestha.

The scheme recorded an earning of Rs 39.76 crore in Jestha, up from Rs 33.27 crore reported in Baisakh. The last traded price of SIGS1 was Rs 14.9 which is far below its NAV.

The mutual fund operators say that lack of awareness among the investors among the benefits of such schemes is one of the major reasons behind it.