Public Issue of "NIBL Stable Fund" Mutual Fund Scheme Opening From Today
Tue, Jan 16, 2024 12:04 PM on Mutual Fund, Latest,
NIMB Ace Capital Limited is opening the issue of its closed-end mutual fund scheme "NIBL Stable Fund" from today i.e. on 2nd Magh and will close on 5th Magh, 2080. If not subscribed fully by the early closing date, the issue can be extended till 16th Magh.
Out of 10 crore unit shares, 1% i.e. 10 lakh units worth Rs. 1 crore have been allocated to the scheme manager NIMB Ace Capital Limited, 14% i.e. 1.4 crore units worth Rs. 14 crore have been allocated to the fund sponsor Nepal Investment Mega Bank Limited. The remaining 8.5 crore units worth Rs 85 crore will be issued to the general public from today.
It would be the 7th mutual fund scheme under NIMB Ace Capital Mutual fund. The Scheme is aiming to carry forward the trust and legacy built for all the Mutual Fund scheme before. " NIBL Stable Fund" is a Closed End Mutual Fund Scheme with corpus size of NPR. 1 Billion and maturity period of 12 years. The primary objective of the scheme is to provide steady returns to its unit-holders over the maturity period by mitigating market risks and it has also projected to provide 16.18% of effective annual returns. NIMB Ace capital Limited is the Fund Manager and depository of scheme. The Capital has been following disciplined and process oriented investment approach to create value to its unitholders.
"NIBL Stable Fund" is a closed-end fund. Applicants can apply for a minimum of 100 units to a maximum of 1,00,00,000 units.
Currently, four Closed End schemes i.e" NIBL Pragati fund", " NIBL Samriddhi Fund-II" and “NIBL Growth Fund”, "Mega Mutual Fund 1" and one Open Ended Mutual Fund Scheme,"NIBL Sahabhagita fund" are operating under “NIBL Mutual Fund”. NIBL Samriddhi Fund-I, NIBL Mutual Fund’s first scheme, has been successfully redeemed after the 7 years of successful operation. It has distributed total cash dividends of 98.50% to its unit-holders, which equivalent to around 18% effective rate per annum. As a pioneer move NIBL Mutual Fund has launched NIBL Sahabhagita Fund, the first ever open ended mutual fund scheme in Nepal after Mutual Fund Regulation 2067.
The units of NIBL Stable Fund will be listed and traded in Nepal Stock Exchange Ltd. (NEPSE)
