Opportunity To Invest For Novice Investor: Public Issue of 8.5 Crore Units "NIBL Stable Fund" Mutual Fund Scheme Closing Today

NIMB Ace Capital Limited is closing the issue of its mutual fund scheme "NIBL Stable Fund" to the general public today i.e. on Magh 16, 2080. The issue opened on the 2nd Magh and was supposed to close on the 5th Magh, 2080. However, since the issue manager didn't receive enough applications, the issue was extended till today.

Out of 10 crore unit shares, 1% i.e. 10 lakh units worth Rs. 1 crore have been allocated to the scheme manager NIMB Ace Capital Limited, 14% i.e. 1.4 crore units worth Rs. 14 crore have been allocated to the fund sponsor Nepal Investment Mega Bank Limited. The remaining 8.5 crore units worth Rs 85 crore are issued to the general public.

According to CDSC, a total of 40,637 applicants have applied for 9,31,21,340 units worth Rs. 93.12 Crore so far. This data is as of 5 p.m. yesterday.

"NIBL Stable Fund" is a closed-end fund. Applicants can apply for a minimum of 100 units to a maximum of 1,00,00,000 units.

Currently, four Closed End schemes i.e" NIBL Pragati Fund", " NIBL Samriddhi Fund-II" “NIBL Growth Fund”, "Mega Mutual Fund 1" and one Open Ended Mutual Fund Scheme, "NIBL Sahabhagita Fund" are operating under “NIBL Mutual Fund”. NIBL Samriddhi Fund-I, NIBL Mutual Fund’s first scheme, has been successfully redeemed after 7 years of successful operation. It has distributed total cash dividends of 98.50% to its unit-holders, which is equivalent to around 18% effective rate per annum. As a pioneering move, NIBL Mutual Fund has launched NIBL Sahabhagita Fund, the first-ever open-ended mutual fund scheme in Nepal after Mutual Fund Regulation 2067.

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