NIC Asia Growth Fund (NICGF), a closed-end 7 years mutual fund scheme managed by NIC Asia Capital Limited with NIC Asia Bank Limited as the fund sponsor, has published its monthly NAV report with its NAV reported at Rs. 14.9 for the month of Poush 2077. The NAV stood at Rs. 13.79 in the previous month.
The scheme, which began with a fund size of Rs.83.52 Crore, has invested Rs. 86.7 crores in the shares of listed companies and Rs. 8.62 crores on non-listed companies. It has invested Rs. 10.35 crores in fixed deposit schemes. This scheme has Rs. 17.08 crores as bank balance and Rs 2 crores in debentures.
It has reported a net profit of Rs. 40.69 crores till the month of Poush which previously was at a profit of Rs. 31.53 crores at the end of Mangsir 2077.
Similarly, the NIC Asia Balanced Fund (NICBF), another 10-year mutual fund scheme managed by NIC Asia Capital has published financial highlights for the month of Poush. The NAV for the period was reported at Rs. 13.88 from previous months’ NAV of Rs. 13.04.
The scheme began with a fund size of Rs.75.50 crores including seed capital from the fund sponsor. The scheme has invested Rs. 62.47 crores in shares of listed companies and Rs. 9.68 crores in debentures. Amount invested in fixed deposits stands at Rs. 8.8 crores while the bank balance stands at Rs. 17.38 crores.
By the end of Poush, the scheme has reported a net profit of Rs. 29.13 crores compared to previous months’ net profit of Rs. 22.58 crores.
Similarly, the first-ever NAV report of "NIC Asia Dynamic Debt Mutual Fund" after IPO issuance has also been unveiled.
While the mutual fund schemes in Nepal invest primarily in equities, with NIBL Sahabhagita Fund investing in both equities and debt, the "NIC Asia Dynamic Debt Mutual Fund" will invest primarily on debt instruments, i.e. debentures.
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. 1.12 crores in listed shares and a little over Rs. 74.12 lakhs in non-listed shares. While it has invested about 19.2 lakhs in debentures, Rs. 3 crore of the fund is kept as fixed deposits. The fund has over Rs. 45.16 crores in bank deposits.
The NAV of the fund in Poush stands at Rs. 10.02. In the earlier month, it was Rs. 9.99. "NIC Asia Dynamic Debt Mutual Fund" is at a profit of over Rs. 11.81 lakhs.