Public issue of ‘NIBL Stable Fund’ under ‘NIBL Mutual Fund’

KATHMANDU: Nepal Investment Mega Bank, a leading bank of Nepal with more than 37 years of successful operation, has registered ‘NIBL Mutual Fund’ as a fund sponsor in the Securities Board of Nepal (SEBON) to operate different mutual fund schemes in Nepali Capital Market.

NIMB Ace Capital, the fund manager and depository of ‘NIBL Mutual Fund’, is a wholly owned subsidiary of NIMB and is licensed by SEBON as a merchant banker with more than 10 years of successful operation. NIMB Ace Capital is also one of the leading merchant and investment banker.

With the approval of SEBON on January 6, 2024, NIBL Mutual Fund has launched ‘NIBL Stable Fund’ today. It will be the sixth mutual fund scheme under NIBL Mutual fund. The scheme aims to carry forward the trust and legacy built for all the mutual fund schemes before. ‘NIBL Stable Fund’ is a closed end mutual fund scheme with a corpus size of Rs 1 billion and a maturity period of 12 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 is also projected to provide 16.18% of effective annual returns. NIMB Ace Capital is the fund manager and depository of the scheme. NIMB Ace Capital has been following a disciplined and process-oriented investment approach to create value for its unitholders.

The issue will open on January 16, 2024, with an early closing date of January 19, 2024, and late closing date on January 30, 2024. Investors (Individuals and Institutions) can invest in the scheme with a minimum investment amount of Rs 1,000 and a maximum of Rs 100 million. The prospectus of the scheme approved by SEBON which contains detailed information related to the scheme is available on the website of NIMB Ace Capital and SEBON. Applicants can submit their duly filled application via C-ASBA from their bank account or Mero Share.

Currently, three closed end schemes — NIBL Pragati Fund, NIBL Samriddhi Fund-II and NIBL Growth Fund — 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 seven 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 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 Stable Fund will be listed and traded in Nepal Stock Exchange (NEPSE).