KATHMANDU: NIBL Ace Capital, the wholly owned subsidiary of Nepal Investment Bank, has got permission to operate as a fund manager under the Specialised Investment Fund Rules, 2075 (2019).
NIBL Ace Capital received the fund manager licence for Specialised Investment Fund from the Securities Board of Nepal (SEBON), on Sunday.
With this, the NIBL Ace Capital will proceed with the fund registration process and collect funds through unit sales and invest the collected funds in shares and other financial instruments of companies in various sectors by adopting risk reduction measures.
The NIBL Ace Capital has also set the goal of distributing the profit earned from the investment as annual return to the unit owners. The fund established in this way will be invested in shares of various companies, especially small and medium enterprises (SMEs) and businesses based on innovation, which will have a positive impact on the country’s economy.
In case, innovation-based companies and businesspersons are unable to expand their businesses due to complicated loan processes, insufficient securities and high-interest rates, the fund manager will establish a new source of investment and promote entrepreneurship.