NIC Asia Bank Sponsored NIC Asia Growth Fund Set to Mature on Falgun 28

NIC Asia Capital has announced that the NIC Asia Growth Fund, a 7-year closed-end mutual fund scheme, is set to mature on Falgun 28, 2081. The fund, promoted by NIC Asia Bank Limited and managed by NIC Asia Capital Limited, consists of 83,520,000 units, each with a face value of Rs. 10. As per the official notice, trading of the fund's units on the Nepal Stock Exchange (NEPSE) will cease after Falgun 25, 2081, and unit purchases or sales will be restricted from Falgun 26, 2081, onward. Investors holding units as of Falgun 25, 2081, will be eligible to receive the fund’s final proceeds upon its liquidation.

Over the years, the NIC Asia Growth Fund has distributed cash dividends across various fiscal years, with returns ranging from 9.50% to 30%, summing up to a total payout of 85% as of the sixth year. The dividends have been deposited into the respective bank accounts linked to the investors' beneficiary accounts. However, some dividends remain uncollected due to outdated or missing bank details. NIC Asia Capital urges all investors to verify whether they have received their dividends by checking the official website, where details of pending payouts and returned amounts are published.

Investors who have yet to dematerialize their units are strongly advised to do so immediately, and those with outdated bank details in their beneficiary accounts should update their bank information promptly to ensure the seamless transfer of remaining dividends. NIC Asia Capital has assured that upon updating bank details, any pending cash dividends will be directly deposited into the respective accounts. Investors are encouraged to take necessary action before the fund’s maturity date to avoid complications regarding dividend claims and fund liquidation.

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