February 25, 2020 | Investopaper
NIC Asia Capital Limited is in the process of launching an open-ended scheme named “NIC Asia Dynamic Debt Fund”. The fund manager has already submitted the application to the Securities Board of Nepal (Sebon) on Falgun 6, 2076.
The open-ended scheme will operate under the fund “NIC Asia Bank Mutual Fund”. The fund is planning to issue 5 crores units at a par value of Rs. 10. Hence, the issue amounts to a total of Rs. 50 crores.
Previously, NIBL Ace Capital launched an opened ended scheme called “NIBL Sahabhagita Fund”.
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An open-ended mutual fund can issue and redeem the shares at any time. Shares are bought and sold on demand at their NAV. Interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders.
The shares of an open-ended fund are priced daily based on their day to day Net Asset Value (NAV).