NIBL Samriddhi Fund-1 (NIBSF1) Refunding Unitholders, Here's All You Need to Know
Mon, Mar 28, 2022 10:45 AM on Mutual Fund, Latest,
On its maturity, NIBL Samriddhi Fund-1 (NIBSF1) has liquidated its investment and is refunding money to unitholders, starting from Chaitra 13.
The 7-year, closed-end mutual fund scheme managed by NIBL Ace Capital Limited and promoted by Nepal Investment Bank Limited matured on Poush 22, 2078. For unitholders who have authenticated their bank accounts on their respective Demat accounts, their portion of the investment fund has been deposited, starting from Chaitra 13. The ending NAV of the fund was Rs. 12.74219502. Thus, unitholders will be refunded in accordance with the number of units they hold after deducting the necessary tax amount.
The fund manager NIBL Ace Capital has requested unitholders to authenticate their bank accounts on the Demat accounts if they haven't done so yet. Unitholders who still hold physical ownership certificates and those who wish to transfer ownership should contact the fund manager NIBL Ace Capital's office in Lazimpat. The unitholders should present their original ownership certificate along with their bank details, proof of identity, and an application as directed by the fund manager.
Unitholders who took loans against the units of the fund should free up their units by performing the necessary course of action.
Finally, unitholders should also contact the fund manager if they haven't yet received the dividend distributed by NIBL Samriddhi Fund-1 (NIBSF1) during various fiscal years. During its period of operation, the mutual fund distributed an average annual dividend of 17.99% to unitholders.
More About the Fund
The public issue for NIBL Samriddhi Fund –I opened on Mangsir 17 2071 (3 December 2014) and closed on Mangsir 21 (7 December, 2021). 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.
