NIBLGrowth Fund gets final approval from SEBON; Closed-End Mutual Fund with corpus size of NPR. 1.6 Arba to have maturity period of 10 years

Nepal Investment Bank Ltd. (NIBL)- truly a Nepali Bank, with more than 36 years of successful operation and one of the leading banks of Nepal, has registered “NIBL Mutual Fund” as Fund Sponsor in Securities Board of Nepal (SEBON) with an objective to operate different Mutual Fund Schemes in Nepalese Capital Market. NIBL Ace Capital Ltd. the Fund Manager & Depository of “NIBL Mutual Fund”, is a wholly owned subsidiary company of NIBL and is licensed by SEBON as Merchant Banker with more than 10 years of successful operation. NIBL Ace Capital Ltd. is also one of the leading Merchant and Investment Banker.

Considering the developing capital market of Nepal, growing mutual fund industry and increasing investor trust and participation in the mutual fund, NIBL Growth Fund (NIBLGF) the fifth mutual fund scheme under NIBL Mutual fund has obtained final approval from SEBON on 4^th December 2022 .The Scheme is aming to carry forward the trust and legacy built for all the Mutual Fund scheme before. NIBLGF is a Closed End Mutual Fund Scheme with corpus size of NPR. 1.6 Billion and maturity period of 10 years.

Currently, two Closed End and one Open Ended Mutual Fund Schemes are operating under “NIBL Mutual Fund”. NIBL Samriddhi Fund-I, NIBL Mutual Fund’s first scheme, have successfully redeem after the 7 years of successful operation. It has distributed total cash dividends of 98.50% to its unit-holders. As a pioneer move NIBL Mutual Fund has launched NIBL Sahabhagita Fund, the first ever open ended mutual fund in Nepal after Mutual Fund Regulation 2067.

The units of NIBL Growth Fund (NIBLGF) will be listed and traded in Nepal Stock Exchange Ltd. (NEPSE). The primary objective of the scheme is to provide steady returns to its unit-holders over the maturity period by mitigating market risks and it has also projected to provide 20.25% of effective annual returns. As a Fund Manager, NIBL Ace Capital Ltd. has been following disciplined and process oriented investment approach to create value to its unitholders.