Rise in Net Profit and NAV in Kartik for NIC Asia Growth Fund (NICGF) and NIC Asia Balanced Fund (NICBAL)

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. 12.39 for the month of Kartik 2077. The NAV stood at Rs. 11.74 in the previous month.

The scheme, which began with a fund size of Rs.83.52 Crore, has invested Rs. 71.9 crores in the shares of listed companies and Rs. 26.21 lakhs on non-listed companies. It has invested Rs. 10.35 crores in fixed deposit schemes. This scheme has Rs. 16.41 crores as bank balance and Rs 2.25 crores in debentures.

It has reported a net profit of Rs. 19.84 crores till the month of Kartik which previously was at a profit of Rs. 14.38 crores at the end of Ashwin 2077.

Announcement

Similarly, the NIC Asia Balanced Fund (NICBAL), another 10-year mutual fund scheme managed by NIC Asia Capital has published financial highlights for the month of Kartik. The NAV for the period was reported at Rs. 11.75 from previous months’ NAV of Rs. 11.20.

The scheme began with a fund size of Rs.75.50 crores including seed capital from the fund sponsor. The scheme has invested Rs. 49.71 crores in shares of listed companies and Rs. 9.68 crores in debentures. Amount invested in fixed deposits stands at Rs. 9.8 crores while the bank balance stands at Rs. 16.01 crores.

By the end of Kartik, the scheme has reported a net profit of Rs. 12.87 crores compared to previous months’ net profit of Rs. 8.75 crores.

Announcement