18th January 2024, Kathmandu
Nepal Investment Mega Bank Ltd. (NIMB)- truly a Nepali Bank, with more than 37 years of successful operation and one of the leading banks of Nepal, has registered “NIBL Mutual Fund” as a Fund Sponsor in the Securities Board of Nepal (SEBON) to operate different Mutual Fund Schemes in Nepalese Capital Market. NIMB Ace Capital Ltd. the Fund Manager & Depository of “NIBL Mutual Fund”, is a wholly owned subsidiary company of NIMB and is licensed by SEBON as a Merchant Banker with more than 10 years of successful operation. NIMB Ace Capital Ltd. is also a leading Merchant and Investment banker.
With the approval of SEBON on 21/08/2080, NIBL Mutual Fund is launching the ” NIBL Stable Fund” today. It would be the sixth mutual fund scheme under the 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 NPR. 1 Billion and a maturity period of 12 years. The scheme’s primary objective is to provide steady returns to its unitholders over the maturity period by mitigating market risks. It is also projected to provide 16.18% of effective annual returns. NIMB Ace Capital Limited is the Fund Manager and depository of the scheme. The 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(Magh 02, 2080) with early closing date on January 19, 2024(Magh 05, 2080) and late closing date on January 30, 2024(Magh 16, 2080). Investors (Individuals & Institutions) can invest in the scheme with a minimum investment amount of NPR 1,000 and a maximum of NPR 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 Ltd(www.nimbacecapital.com) and SEBON (www.sebon.gov.np). Applicants can submit their duly filled application via C-ASBA from their bank account or Mero Share.
Currently, three Closed End schemes i.e” 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 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.
The units of NIBL Stable Fund will be listed and traded in Nepal Stock Exchange Ltd. (NEPSE)
