"NIC Asia Growth Fund 2" Approved by SEBON; NIC Asia Capital to Issue 10 Crore Units Mutual Fund Scheme Soon

The Securities Board of Nepal (SEBON) has approved the "NIC Asia Growth Fund - 2" worth Rs 1 Arba on Ashwin 12, 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 NIC Asia Bank Limited, while the fund manager is NIC Asia Capital.

As of now, NIC Asia Capital is managing four closed-end funds i.e. NIC Asia Balanced Fund (NICBF), NIC Asia Growth Fund (NICGF), NIC Asia Select-30 (NICSF), and NIC Asia Flexi Cap Fund (NICFC), and one open-end fund i.e NIC Asia Dynamic Debt Fund (NADDF) in the market.

There are currently 35 closed-end mutual funds listed on the Nepal Stock Exchange, whereas 7 open-end schemes are traded directly in the respective fund manager. The two closed-end schemes that are yet to be listed on NEPSE are Siddhartha Investment Growth Scheme - 3 (SIGS3) and Himalayan 80-20 (H8020), upon which there will be 44 schemes altogether.