NIC Asia Capital Unveils NAV Report of 3 of its Mutual Funds
Tue, Sep 28, 2021 11:26 AM on Latest, Mutual Fund,
NIC Asia Balanced Fund (NICBF), a 10-year mutual fund scheme managed by NIC Asia Capital has published financial highlights for the month of Bhadra. The NAV for the period was reported at Rs. 14.57 from previous months’ NAV of Rs. 18.65. The fall in NAV is a result of a 30% dividend adjustment.
The scheme began with a fund size of Rs.75.50 crores including seed capital from the fund sponsor. The scheme has invested Rs. 79.56 crores in shares of listed companies and Rs. 15.42 crores in debentures. Amount invested in fixed deposits stands at Rs. 10.3 crores while the bank balance stands at Rs. 3.52 crores.
By the end of Bhadra, the scheme has reported a net profit of Rs. 33.1 crores compared to previous months’ net profit of Rs. 41.26 crores.
Similarly, the NAV report of "NIC Asia Dynamic Debt Mutual Fund" has also been unveiled.
With this open-ended mutual fund scheme, the merchant bank aims to promote the ongoing efforts of different BFIs that have been issuing a number of debenture programs into the market. It also aims to minimize the risks since investments in debentures are considered more immune to drastic downfalls like in the equity market.
The fund has invested a little over Rs. 8.85 crores in listed shares and a little over Rs. 13.07 lakhs in non-listed shares. While it has invested about 13.06 crores in listed debentures and 6.53 crores in non-listed debentures, Rs. 3 crores of the fund is kept as fixed deposits. The fund has over Rs. 20.59 crores in bank deposits.
The NAV of the fund in Bhadra stands at Rs. 10.66. In the earlier month, it was Rs. 10.64. "NIC Asia Dynamic Debt Mutual Fund" is at a profit of over Rs. 2.96 crores. In the month before that, the profit was Rs. 2.05 crores.
NIC Asia Select-30 (Index Fund) has also unveiled its NAV report. The "NIC Asia Select-30 (Index Fund)" is a closed-end mutual fund with a maturity period of 7 years. The fund initially had a size of 10 crores units, each unit having a par value of Rs. 10. Since the public issue was oversubscribed, the fund was resized to 125% of its initial size, i.e. 25% more units have been added.
The NAV of the fund stands at Rs. 9.94. The fund has invested Rs. 10.46 crores in listed shares Rs. 3.33 lakhs in non-listed shares. The fund has Rs. 10 crores as fixed deposits and Rs. 1.03 Arba in the bank. Meanwhile, it has other assets worth Rs. 1.61 lakhs.
The fund is at a loss of Rs. 7.93 lakhs. In the month before that, it was at a profit of Rs. 68.06 lakhs.
