NIBL Samriddhi Fund-1 (NIBSF1) Maturing Tomorrow

NIBL Samriddhi Fund-1 (NIBSF1) is maturing tomorrow, i.e. on Poush 22, 2078.

NIBL Samriddhi Fund-1 (NIBSF1) is a 7-year, closed-end mutual fund scheme managed by NIBL Ace Capital Limited. The fund is promoted by Nepal Investment Bank Limited.

The public issue for NIBL Samriddhi Fund –I opened on Mangsir 17 2071 (3 December 2014) and closed on Mangsir 21 (7 December). The public issue was oversubscribed more than 3 times. The allotment for NIBL Samriddhi Fund - I was done on 23 Poush, 2071 (7 January, 2015) in the premise of NIBL Capital Markets.

The mutual fund had originally offered 80 million units, but following a high number of applications for the mutual fund units priced at Rs 10, the fund manager allotted units worth Rs 1,000 million as allowed by the Mutual Fund Regulations 2067. Out of the total of 100,000,000 units, 15 percent were allocated for Nepal Investment Bank and NIBL Capital Ltd. together. The remaining 85,000,000 units were set allotted to the general public.

The mutual fund scheme’s NAV stands at Rs. 12.62 as of Mangsir end, 2078 which was Rs. 12.66 in the previous month. Till the month of Mangsir, the fund had invested Rs. 2.73 crores in the listed shares and Rs. 14.79 lakhs in public issues, right shares, and bonus shares. The scheme had Rs. 1 Arba in fixed deposits and had invested Rs. 10.45 crores in bonds and debentures. This scheme had Rs. 9.74 crores in the bank balance.

NIBSF1 has posted a net profit of Rs. 1.22 crores in the month of Mangsir. Its profit for the previous month was Rs. 1.58 crores.