SIGS1 NAV dips slightly to Rs 15.69, remains undervalued in the market

ShareSansar, March 26:

Siddhartha Investment Growth Scheme-1, a closed-end 5 years mutual fund scheme managed by Siddhartha Capital Limited, has reported a slight fall in its net asset value (NAV) for the month of Falgun as compared to the previous month.

SIGS1’s NAV fell from Rs 16.22 in the previous month to Rs 15.79 apparently due to slack share market.

According to its monthly report published a few days back, another mutual fund in the market, Nabil Balanced Fund-1 also suffered a marginal loss in Falgun due to similar reasons.

The scheme, which began with a total fund of Rs 50 crore, invested Rs 71.64 crore in listed shares, Rs 3.49 crore in public issues and Rs 75.14 crore in other investments such as unlisted shares in Falgun, according unaudited report for the month published by the mutual fund manager today.
 
The scheme recorded a total earning of Rs 25.70 crore in Falgun, down from Rs 27.67 crore reported in Magh while its total expenses has risen to Rs 1.14 crore from Rs 98.18 crore in the review period.
 
The scheme remains undervalued in the market as it been hovering around Rs 12 per unit for a long time, which is below NAV.
 
It closed at Rs 12.6 at NEPSE yesterday.

The mutual fund operators say that lack of awareness among the investors among the benefits of such schemes is one of the major reasons behind it.
 
Nabil Balanced Fund-1 is also trading below par due to similar reasons.