In the month of Shrawan, the Net Asset Value (NAV) of “Global IME Balanced Fund – 1 (GIBF1)” dropped to Rs. 9.82 from the previous month’s Rs. 10.57. This closed-end fund, with a maturity period of 10 years, currently holds a total fund size of Rs. 1.02 Arba.
The fund’s investments include Rs. 74.60 Crore in listed shares and Rs. 3.60 crore in non-listed shares. Additionally, it has Rs. 11.76 crores in the bank and holds other assets valued at Rs. 6.40 crores.
ICRA Nepal Limited has confirmed the Fund Management Quality Rating (FMQR) of [ICRANP] AMC Quality 3 (pronounced ICRA NP Asset Management Company Quality Three) for Citizens Capital Limited. This rating signifies that entities with AMC3 offer reasonable confidence in their management quality. It’s important to note that ICRA Nepal’s assessment doesn’t comment on legal adherence, financial performance, or future outlook of schemes overseen by the Asset Management Company.
ICRA Nepal employs a rating scale ranging from AMC1 to AMC5, where AMC1 reflects the strongest management quality assurance, while AMC5 indicates weaker assurance in management quality. In cases of quality Ratings 2, 3, and 4, a “+” (Plus) sign can be added to indicate a relatively better position within the respective rating categories.
NIC Asia Capital, the manager of the 10-year closed-end mutual fund scheme called NIC Asia Balanced Fund (NICBF), has released the Net Asset Value (NAV) report for the month of Shrawan. The NAV for this period is recorded at Rs. 11.18, showing a slight decrease from the previous month’s Rs. 11.28.
The scheme was initiated with an initial fund size of Rs. 75.50 crores. Among its investments, Rs. 39.12 crores have been placed in shares of listed companies, while Rs. 21.77 crores have been allocated to debentures. Additionally, the scheme has invested Rs. 65.68 lakhs in non-listed shares, and the remaining bank balance is Rs. 22.45 crores.
During the month of Shrawan, the fund has achieved a net profit of Rs. 85.06 lakhs. In the preceding month, it had a net profit of Rs. 9.21 crores.
The much-anticipated Millennium Challenge Corporation (MCC) initiative is about to start on Wednesday. This project, spanning five years, will begin its implementation on August 30, 2023, which aligns with the 13th of August in the Nepali calendar. Today, the Ministry of Finance is organizing an event to officially announce this significant milestone.
As per Article 7 of the agreement between the Nepali government and the American Cooperation Mission MCC, the effectiveness of the agreement depends on the date when MCC sends a letter to Nepal’s government. This letter confirms MCC’s readiness to carry out the agreement, provided that they are satisfied with the completion of necessary prerequisites.
Sunrise First Mutual Fund (SFMF), a closed-end fund with a 10-year maturity, has released its monthly Net Asset Value (NAV) report for the month of Shrawan. The NAV for this period is Rs. 12.90, slightly lower than the previous month’s Rs. 12.92.
Starting with an initial capital of Rs. 86 crores, SFMF has made investments of Rs. 59.7 crore in listed shares and Rs. 18.07 crore in bonds and debentures until the end of Shrawan. Additionally, it has put Rs. 3.91 crore into public issues, rights issues, and bonus shares, and holds Rs. 8 crore in fixed deposits. The fund’s bank balance is Rs. 21.29 crores.
In terms of profits, SFMF has reported a net profit of Rs. 4.91 crore for the month of Shrawan, a decrease from the Rs. 11.49 crore net profit in the preceding month.
Barahi Sedi, a hotel under construction in Pokhara’s Lakeside area, has selected NMB Capital as the issue manager for its upcoming public share offering of 1.16 million ordinary shares. The agreement was formalized through a Memorandum of Understanding (MoU) signed between Mr. Dipesh Kumar Vaidya, the CEO of NMB Capital, and Mr. Biplab Paudel, the Managing Director of the hotel. The hotel is slated to be a 5-star establishment with 150 rooms, 11 service houses, and various amenities, set to launch in 2025 according to the media statement.
During an official event at FRBL’s headquarters in Kathmandu on August 27, 2023, Mr. Prakash Poudel, the Country Director of United Registrar of Systems (URS), presented the certification to FRBL’s chairman, Mr. Mahesh Kumar Agrawal. The occasion was attended by FRBL’s Board members, leadership team, staff, and URS Nepal representatives. Mr. Poudel congratulated FRBL for achieving the ISO 9001:2015 certification, highlighting its role in ensuring effective operations, streamlined processes, and customer satisfaction.
Mr. Subarna Paudel, the Managing Director of FRBL, expressed gratitude for the collaborative efforts of FRBL’s management and URS Nepal. He described the ISO 9001:2015 certification as a significant milestone, validating their dedication to excellence and their commitment to providing exceptional reinsurance broker services to clients.
CDSC, in partnership with associated firms, has begun informing investors about the launch of rights shares through mobile messages, starting today (Bhadra 12th), to meet investor demands. The first batch of notifications has been sent to 38,327 out of 70,000 investors of Synergy Power Development Limited (SPDL). CDSC plans to send messages to the rest as well. However, the process is hindered by incorrect contact numbers (some not nine-digit) and even landline numbers provided by certain investors, posing difficulties in message delivery.
“Kumari Capital Releases NAV Report for KEF, KDBY, and KSLY in Shrawan 2080”
Kumari Capital has disclosed the Net Asset Value (NAV) reports for Kumari Equity Fund (KEF), Kumari Dhanabriddhi Yojana (KDBY), and Kumari Sunaulo Lagani Yojana (KSLY) for the month of Shrawan, 2080.
In this period, Kumari Equity Fund (KEF) exhibits a fund size of Rs. 1 billion. The NAV for Shrawan is recorded at Rs. 10.81, as opposed to the previous month’s Rs. 11.03. The fund’s investments include Rs. 71.34 crore in listed company shares, Rs. 1.28 crore in public offerings like right shares and bonus shares, along with Rs. 15.87 crores in bonds/debentures and Rs. 2 crores in fixed deposits.
Mega Stock Markets Limited, identified with broker number 75, has officially commenced its operations on Bhadra 8, 2080. The inaugural event, marked by a formal ceremony, was graced by the presence of key figures including the company’s chairman, Dr. Govinda Nepal, Mr. Ramesh Kumar Hamal, the chairman of SEBON, Mr. Prithivi Bahadur Pande, the chairman of Nepal Investment Mega Bank, and Mr. Krishna Bahadur Karki, the CEO of Nepal Stock Exchange, among others, according to the information provided by the media statement.
Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) has successfully listed 2,28,000 units of bonus shares on the Nepal Stock Exchange (NEPSE). The company organized its fourth Annual General Meeting (AGM) on the 4th of Ashad and confirmed a 15% dividend for the fiscal year 2078/79. The company’s board of directors decided to allocate this dividend to its Rs. 16 Crores paid-up capital. The proposed dividend includes a 0.75% cash dividend amounting to Rs. 12 lakhs and a 14.25% bonus share valued at Rs. 2.28 crores. These same bonus shares are now officially listed on the NEPSE.
Siddhartha Capital Limited has announced the date for the book closure regarding dividends for its mutual funds. The deadline is set for the 13th of Bhadra. Investors who hold units before this date will be eligible to receive the dividend payments.
During a Board of Directors meeting on the 32nd of Shrawan, Siddhartha Capital Limited decided to distribute dividends to its mutual fund unit holders. For the fiscal year 2079/80, a 5% cash dividend amounting to Rs. 7.5 Crores will be given to unit holders of Siddhartha Equity Fund (SEF), while a 6.5% cash dividend (inclusive of tax) totaling Rs. 7.8 Crores will be distributed to unit holders of Siddhartha Investment Growth Scheme – 2 (SIGS2).