NIC Asia Capital Limited has published an offer letter to issue the closed-end mutual fund scheme "NIC Asia Growth Fund 2". The issue will open on 4th Mangsir and close on 7th Mangsir, 2080. If not subscribed fully by the early closing date, the issue can be extended till 18th Mangsir.
Out of 10 crore unit shares, 15% i.e. 1.5 crore units worth Rs. 15 crores have been allocated to the fund promoter NIC Asia Bank Limited. The remaining 8.5 crore units worth Rs 85 will be issued to the general public from 4th Mangsir.
"NIC Asia Growth Fund 2" is a closed-end fund with a maturity period of 7 years. Applicants can apply for a minimum of 100 units to a maximum of 1,00,00,000 units.
As of now, NIC Asia Capital is managing four closed-end funds i.e. NIC Asia Balanced Fund (NICBF), NIC Asia Growth Fund (NICGF), NIC Asia Select-30 (NICSF), and NIC Asia Flexi Cap Fund (NICFC), and one open-end fund i.e NIC Asia Dynamic Debt Fund (NADDF) in the market.