Kathmandu, January 19
Nepal Investment Bank Ltd - one of the leading banks of Nepal which was recently renamed Nepal Investment Mega Bank Ltd (NIMBL) following merger with Mega Bank Ltd - had registered 'NIBL Mutual Fund' as a fund sponsor in Securities Board of Nepal (SEBON) with an objective to diversify mutual fund schemes in the Nepali capital market.
Nepal's first open-ended scheme 'NIBL Sahabhagita Fund', which was operated under NIBL Mutual Fund was launched in 2019 with a total size of Rs 200 million and has attained a milestone size of Rs one billion.
Considering the high demand of investors, NIBL Ace Capital had approached SEBON to increase the size of the scheme to Rs two billion and has recently been granted the approval for the same.
This scheme has been successful in giving reasonable returns to its unit holders since the first year of its operation, under which a total of 65.45 per cent dividend have been distributed over three years of successful operation and average annual returns of 21.81 per cent. So far, the scheme has yielded the highest returns compared to other open-ended mutual fund schemes, as per a media release.
Investors who want to invest in this scheme - the largest ever open-ended scheme in the Nepali capital market - can do so by submitting duly filled forms available at all the branch offices of NIMB and NIBL Ace Capital and distribution agents. They can also apply online by visiting the website (www.niblcapital.com) of NIBL Ace Capital. Investors can participate in a dividend re-investment plan as well, which eliminates constant logistical hassles and ensures investors don't miss out an investment opportunity.
A version of this article appears in the print on January 20, 2023, of The Himalayan Times.
