"NIC Asia Dynamic Debt Fund" added to SEBON pipeline; Open ended fund to issue 5 crore units

The Securities Board of Nepal (SEBON) has added the "NIC Asia Dynamic Debt Fund" into its Mutual Fund Scheme Pipeline.

NIC Asia Bank Mutual Fund is bringing an open-ended scheme called "NIC Asia Dynamic Debt Fund". The fund will be issuing a total of 5 crore units at a par of Rs 10 raising total of Rs 50 crore.

NIC Asia Capital is the fund manager of the newly proposed fund.

This is the second open-ended fund in Nepali Capital Market. Currently, NIBL Ace Capital is managing an open ended fund called NIBL Sahabhagita Fund. This fund is not traded at Nepal Stock Exchange (NEPSE) like other close-ended funds and it has no fixed maturity period. The fund had issued 1.25 Crore units worth Rs.12.50 Crore to the general public.