NIBL Samriddhi Fund-1 gets good response; oversubscribed by more than 3 times

ShareSansar, December 9:

The seven-year closed end NIBL Samriddhi Fund-1, the first mutual fund launched by NIBL Capital Limited and managed by Nepal Investment Bank Limited, has been oversubscribed by more than 3 times. The issue was closed on 21st Mangsir, 2071.

“NIBL Samriddhi Fund-1” was oversubscribed by more than 3 times,” said NIBL Capital’s Mutual Fund Manager- Sabir Bade Shrestha to ShareSansar today.

Out of total 80,000,000 units, NIBL has allocated 12,000,000 units or 15 percent of the total sold units for the Nepal Investment Bank and NIBL Capital Ltd. together and the remaining 68,000,000 units was set aside for the general public.

Out of Rs 68 crore set aside for the public, there was a demand of almost Rs 2.07 arba; which means now the total fund amount can be extended up to Rs 1 arba due to the over subscription of the issue of the mutual fund scheme.

It had received Fund Management Quality Rating of AMC Quality 3 from ICRA Nepal back in June.