Security board of Nepal has granted approval for Open End mutual fund of NIBL Ace Capital on 09 Baishak 2076. By this approval Nepalese capital markets will get experience of open end mutual fund. NIBL Ace capital starts first Open End mutual fund schemes in Nepal.
Mutual fund schemes “NIBL Sahabhagita fund” managed by NIBL Ace Capital Limited will be issuing 50 lakh units at the rate of Rs.10. Fund sponsor is Nepal Investment Bank Limited.
All other existing mutual funds are close end which have fixed maturity period. But open end 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.
Open End mutual fund can issue mutual funds units as much as investor’s demands. It has no fixed fund size.
