NIC ASIA Growth Fund Matures: Payouts Begin June 23, Nepal Mutual Fund Update
19th June 2025, Kathmandu
NIC ASIA Bank Limited, acting as the fund promoter, and NIC ASIA Capital Limited, serving as the fund manager and depository, has officially announced the maturity of its 7-year closed-end mutual fund scheme — the “NIC ASIA Growth Fund.”
NIC ASIA Growth Fund Matures
The scheme, operated under the NIC ASIA Bank Mutual Fund, consisted of 83,520,000 units with a face value of NPR 10 per unit. The fund reached its maturity on 2081/11/28.
In line with Chapter 7, Section 32(3) of the Mutual Fund Regulations, 2067, once approval is granted by the Securities Board of Nepal (SEBON) for the termination of a scheme, the fund manager is required to liquidate all assets and distribute the proceeds among unitholders in proportion to their ownership, within a three-month window.
Accordingly, NIC ASIA Capital received SEBON’s official approval through a letter dated 2081/12/12 to initiate the closure of the NIC ASIA Growth Fund. Following this, all assets under the scheme have been successfully converted to cash, and the account reconciliation process has been completed.
As per the latest notice, payments to investors will begin from 2082 Ashadh 9 (June 23, 2025). The funds will be directly deposited into the bank or financial institution account linked to the beneficiary’s DEMAT account.
The capital has urged all unitholders to ensure their DEMAT accounts are updated with correct bank account information. If any unitholder’s bank details are missing or have changed, they are advised to update their records promptly to avoid any delay in receiving their payment.
About NIC ASIA
NIC ASIA Bank is one of Nepal’s top commercial banks. It started after the merger of NIC Bank and Bank of Asia in 2013. Since then, it has grown rapidly. The bank now has over 350 branches and 400 ATMs across the country. It also operates extension counters and branchless banking points to reach rural areas.
The bank focuses strongly on digital services. Its MoBank app offers fund transfers, bill payments, QR payments, and loan applications. NIC ASIA also provides remittance services through NIC ASIA Remit.
It offers retail, SME, and corporate banking products. NIC ASIA Capital handles mutual funds, share registrar services, and portfolio management.
The bank has won many awards for innovation and performance. It also supports financial inclusion and social development through CSR activities.
NIC ASIA Bank aims to become the most trusted and inclusive digital bank in Nepal. It continues to invest in technology and customer service.
For more:- NIC ASIA Growth Fund Matures
