NIC Asia Capital to Launch its Second Open Ended Scheme ‘NIC ASIA Equity Linked Investment Scheme’
February 16, 2024 | Investopaper
NIC Asia Capital Limited is planning to launch an open ended scheme named “NIC ASIA Equity Linked Investment Scheme”. The fund manager is going to issue 10 crore units of its new mutual fund scheme. At a par value of Rs 10 per unit, the total issue size amounts to Rs 100 crores. The scheme will be operated under ‘NIC Asia Bank Mutual Fund’.
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For this purpose, as the fund manager, NIC Asia Capital has submitted the application to the Securities Board Of Nepal (SEBON) on Magh 24, 2080 BS seeking approval. Only after the permission from the board, the company can sell the units to the general public.
NIC Asia Bank is the promoter company of the NIC Asia Bank Mutual Fund. Hence, the bank along with the fund manager NIC Asia Capital will purchase 15 percent or 1.5 crore units of the scheme. The general public can apply for the remaining 8.5 crore units worth Rs 85 crores.
‘NIC ASIA Equity Linked Investment Scheme’ is an open ended scheme. In an open-ended mutual fund, interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders.
Investing in a mutual fund can be a good strategy for most investors as it offers decent returns at a low level of risk. Mutual funds are managed by professional experts and provide wide diversification.
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