NIC Asia Growth Fund
Published On : 9 January, 2018 9:12 am
NIC ASIA Capital – a wholly owned subsidiary company of NIC Asia Bank – is going to issue its first mutual fund scheme ‘NIC ASIA Growth Fund’ from January 16. Securities Board of Nepal (Sebon) has granted an approval on December 26. NIC Asia Growth Fund is a 7-year close-ended mutual fund scheme having base size of Rs 1 billion, which can go up to Rs 1.25 billion in case of oversubscription, the company said, adding that ICRA Nepal has provided ‘[ICRANP-IR] AMC Quality 3 (AMC)’ quality rating to the NIC Asia Capital as Fund Manager and ‘[ICRANP–IR] A-‘ to NIC ASIA Bank as Fund Sponsor.
This 7-year growth fund can be traded in secondary market after being listed on the stock exchange.