"NIBL Stable Fund" Approved by SEBON; NIMB Ace Capital to Issue 10 Crore Units Mutual Fund Scheme Soon

The Securities Board of Nepal (SEBON) has approved the "NIBL Stable Fund" worth Rs 1 Arba on Ashad 22, 2080.

This is a closed-end mutual fund scheme that will be floating 10 crore unit shares each at a par value of Rs 10 per share. The sponsor of the fund is Nepal Investment Mega Bank Limited, while the fund manager is NIBL Ace Capital.

As of now, NIBL Ace Capital is managing three closed-end funds i.e NIBL Pragati Fund (NIBLPF), NIBL Samriddhi Fund-2 (NIBSF2), and NIBL Growth Fund (NIBLGF), and one open-end fund i.e NIBL Sahabhagita Fund (NIBLSF) in the market.

There are currently 42 mutual funds, of which 7 open-end schemes are traded directly with the relevant fund manager, and 33 open-end schemes from the remaining 35 are listed on the Nepal Stock Exchange. The two closed-end schemes that are yet to be listed on NEPSE are Citizens Super 30 Mutual Fund, and Siddhartha Investment Growth Scheme 3.