Kathmandu. NIBL Sahabhagita Fund (Open Oriented Scheme) with Nepal Investment Mega Bank Limited as the Fund Promoter and NIMBS Capital Limited Scheme Manager has increased the size of the scheme to Rs. As per the guidelines issued by the Securities Board of Nepal (SEBON) on 2082-10-02 regarding seed capital of the fund, the units of the unit holders have not been deposited in the beneficiary account due to the increase in the number of units of the fund for a long time and as per the guidelines issued by the Securities Board of Nepal on 2082-10-02 regarding seed capital, the size of the plan from the Securities Board of Nepal will be Rs. Since approval has been received to maintain Rs 10 billion (i.e. 1 billion units), the units of the unit owners have been deposited in the beneficiary account.
Therefore, the investors of NIBL Participation Fund have successfully credited all the units by logging in to their My Shares.
NIMBS Capital, a wholly-owned subsidiary of Nepal Investment Mega Bank Limited has been establishing itself as the leading merchant and investment bank of Nepal for the past 13 years. The company has been maintaining stable returns, reliable services and a strong presence in the capital market. NIMBS Capital Limited provides various services such as mutual fund, portfolio management services, advisory, depository participant services, issue management, share guarantee and share registrar services.
NIBL Sahabhagita Fund under NIBL Mutual Fund is an open-ended scheme being operated by NIMB Ace Capital Limited with NIMB Ace Capital Limited as the fund manager. It is registered under the Mutual Investment Fund Rules, 2067 issued by the Securities Board of Nepal. This is Nepal’s first open-ended mutual fund, which has paved the way for the growth of other open-faced mutual funds.
The fund generates returns by investing in instruments such as equity, debentures, fixed deposits, treasury bills, and fixed income generating instruments. This scheme was launched on July 24, 2019. Due to its open-ended nature, it is not listed on the Nepal Stock Exchange but can be bought and sold directly through the scheme manager NIMBS Capital Limited.
After the initial unit allotment, the fund received approval to issue 20 crore units. The size of the scheme is Rs. The amount of Rs. 6 billion (i.e. 600 million units) has been increased to Rs. 6 billion as per the approval of the Securities Board of Nepal with effect from 2082-12/05. 10 billion (i.e. 1 billion units).
With this, the fund has become one of the largest mutual funds in Nepal. Currently, there are 43 closed-ended and 13 open-ended mutual funds operating in Nepal.
