"NIBL Growth Fund (NGF)" Opens From Today; An Opportunity For Risk Averse Investors

Nepal Investment Bank Ltd. (NIBL)- truly a Nepali Bank, with more than 36 years of successful operation and one of the leading banks of Nepal, has registered “NIBL Mutual Fund” as Fund Sponsor in Securities Board of Nepal (SEBON) with an objective to operate different Mutual Fund Schemes in Nepalese Capital Market. NIBL Ace Capital Ltd. the Fund Manager & Depository of “NIBL Mutual Fund”, is a wholly owned subsidiary company of NIBL and is licensed by SEBON as Merchant Banker with more than 10 years of successful operation. NIBL Ace Capital Ltd. is also one of the leading Merchant and Investment Banker.

With approval of SEBON on 18/08/2079, NIBL Mutual Fund is launching " NIBL Growth Fund" (NIBLGF) the fifth mutual fund scheme under NIBL Mutual fund. The Scheme is aming to carry forward the trust and legacy built for all the Mutual Fund scheme before. NIBLGF is a Closed End Mutual Fund Scheme with corpus size of NPR. 1.6 Billion and maturity period of 10 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 20.25% of effective annual returns.NIBL 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.

The issue is open from today, December 22, 2022 (Poush 07, 2079) with early closing date on December 27, 2022 (Poush 12, 2079) and late closing date on January 5, 2023 (Poush 21, 2079) . Investors (Individual & Institutions) can invest in the scheme with minimum investment amount of NPR 1,000 and maximum of NPR 1.60 Billion. The prospectus of scheme approved by SEBON which contains detailed information related to the Scheme are available in the website of NIBL Ace Capital Ltd(www.niblcapital.com) and SEBON (www.sebon.gov.np). Applicants can submit their duly filled application via C-ASBA from their bank account or Mero Share.

Currently, two Closed End schemes i.e" NIBL pragati fund" and " NIBL Samriddhi Fund-II" and one Open Ended Mutual Fund Schemes,"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 Growth Fund (NIBLGF) will be listed and traded in Nepal Stock Exchange Ltd. (NEPSE)