NIC ASIA issuing its mutual fund scheme worth Rs. 1 arba from Magh 2; suitable for both matured and beginner investors

NIC ASIA Capital a wholly owned subsidiary company of NIC ASIA Bank is going to issue its 1st mutual fund scheme “NIC ASIA Growth Fund” from Magh 2nd (January 16th). Securities Board of Nepal has granted an approval on 2074/09/11. NIC ASIA Growth Fund is a 7 year close-ended mutual fund scheme having base size of Rs. 1 billion which can go upto Rs 1.25 billion in case of over subscription. ICRA Nepal has provided “[ICRANP-IR] AMC Quality 3 (AMC)” quality rating to the NIC ASIA Capital Limited as Fund Manager and “[ICRANP–IR] A-” to NIC ASIA Bank Limited as Fund Sponsor. This 7 year growth fund can be traded in secondary market after being listed in the stock exchange. Talking about the return from this fund, investors will be enable to receive both dividend and capital gain from the mutual fund. Apart from this, at the time of maturity, investors will be refunded based on the final Net Asset Value (NAV) of the scheme. This scheme will be beneficial not only for the experienced and matured investors but also for new investors who don’t have adequate knowledge about stock market. Due to many attractive features like diversification, professional management, transparency, higher liquidity, tax saving etc, mutual funds have become an attractive avenue of investment for Nepalese investors.