NIBL Ace Capital's "NIBL Growth Fund" Concludes With 45,833 Enthusiastic Applicants; Fund Manager Extends Gratitude to Everyone on Success of the Issue

NIBL Ace Capital Limited issued its closed-end mutual fund scheme "NIBL Growth Fund (NGF)" on 7 Poush, 2079, and the issue was concluded on 21st Poush, 2079.

16 crore unit shares were being issued at a par value of Rs. 10 per unit. 19% of the total units i.e. 3.04 crore units worth Rs. 30.4 crores have been allocated to the fund promoter Nepal Investment Bank Limited whereas 1% of the total units i.e. 16 lakh units have been allocated to the fund manager NIBL Ace Capital Limited. Thus, the remaining 12.80 crore units are for the public issue.

During the period of the public issue, 45,833 people have applied for the purchase of units worth more than 1.32 Arba from various institutions and ordinary investors in this scheme. Despite the current liquidity situation as well as the slowdown in the overall economic and capital market activities, there has been enthusiastic participation of common investors in this scheme, which was not seen in the schemes of some of the recently issued funds. It has been found that the investors have established high confidence in the plans of this fund amid the continuous returns.

The scheme manager has informed that the units of this "NIBL Growth Fund" issued for a period of 10 years can be listed in the Nepal Stock Exchange and traded in the secondary market until that period.