NIBL Ace Capital is issuing open ended mutual fund schemes from today; 19 Jestha 2076.
Mutual fund schemes “NIBL Sahabhagita fund” managed by NIBL Ace Capital Limited is issuing 5 crore units at the rate of Rs.10. Fund sponsor is Nepal Investment Bank Limited.
Out of total issue, it has allocated 10 lakh units for NIBL ACE Capital, 65 lakh units for Nepal Investment Bank and remaining 4.25 crore units for others.
First phase, it is issuing 1.25 crore units of mutual funds at the rate of Rs.10 from today, 19 Jestha 2076.
Interested applicants can apply minimum 100 units & maximum 2.50 lakh units from all the C-ASBA approved Banks & financial institutions.
Nepalese capital markets will get experience of open ended mutual fund. NIBL Ace capital starts first Open End mutual fund schemes in Nepal. Open ended mutual fund has no maturity & investors can buy & sell at any time. It has no obligation to buy or sell from secondary market as like other existing mutual funds.
