NIC ASIA Capital reaches out to SEBON seeking permission for its first open-ended mutual fund scheme; new Fund to reduce risks of fluctuating market to large extent

NIC ASIA Capital, for the first time under its mutual fund schemes, has sought permission from SEBON to operate its open-ended mutual fund, NIC ASIA Dynamic Debt Fund.

The merchant bank aims to promote the ongoing efforts of different BFIs that have been issuing number of debenture programs into the market through its new open-ended mutual fund scheme. It also aims for the less impact of the possible decline in the stock market with this scheme since the investment in the debentures are considered to be safe and secured.

The merchant bank currently has two close-ended mutual funds  NIC ASIA Balance Fund and NIC ASIA Growth Fund under its management and provides services like issue manager, share registrar, share underwriting, investment management, depository partner, corporate advisory, etc.