KATHMANDU: NIBL Mutual Fund has launched ‘NIBL Growth Fund (NIBLGF)’, the fifth mutual fund scheme.
Until the fourth working day of the issue, applications for 80.63 million units out of 160 million units were received, which is equivalent to more than 50% of the issue size. Compared to recently launched other mutual fund schemes, this scheme has been able to add enthusiasm amongst the investors and drag their interest towards the largest-ever scheme of mutual funds in the Nepali capital market.
NIBLGF is a closed-end mutual fund scheme with a corpus size of Rs 1.6 billion and a maturity period of 10 years. The scheme has projected to provide 20.25% of effective annual returns. NIBL Ace Capital Limited is the fund manager and depository of scheme.
The public issue (IPO) is open from December 22, 2022, with the closing date on January 5, 2023. Investors (individuals and institutions) can invest in the scheme with a minimum investment amount of Rs 1,000 and a maximum of Rs 160 million.
Applicants can submit their duly filled application via C-ASBA from their bank account or Mero Share.