In Kartik, NIC Asia Capital’s mutual funds experienced an increase in net profit and net asset value (NAV).
For the month of Kartik, the financial highlights of the NIC Asia Balanced Fund (NICBF), a mutual fund scheme managed by NIC Asia Capital and invested in Asia-Pacific emerging markets. The net asset value (NAV) for the period was recorded at Rs. 14.59, an increase over the previous month’s NAV of Rs. 14.32.
The fund size at the start of the plan was Rs. 75.50 crores, which included seed cash from the fund’s sponsor. The plan has made investments in shares of publicly traded businesses worth Rs. 76.45 crores and in debentures worth Rs. 15.42 crores. A total of Rs. 1.06 crore has been invested in non-listed stocks. The amount of money invested in fixed deposits currently stands at Rs. 10.3 crores, while the bank’s current account balance is Rs. 5.61 crores.
In the month of Kartik, the NIC Asia Balanced Fund (NICBF) made a profit of Rs. 33.24 crores. It had made a net profit of Rs. 30.99 crores in the preceding month, according to the company’s financial statements.
Additionally, the NAV report for the “NIC Asia Dynamic Debt Mutual Fund” has been made public as well.
The merchant bank intends to use this open-ended mutual fund scheme to promote the continued efforts of various banks and financial institutions (BFIs) that have been issuing a number of debenture programs into the market. It also seeks to reduce risks by investing in debentures, which are regarded to be more resistant to severe downturns, such as those experienced in the equity market.
The fund has made investments in listed stocks worth slightly more than Rs. 9.51 crores and non-listed stocks worth slightly more than Rs. 16.22 lakhs. However, while it has invested around Rs. 19.71 crores in listed debentures, Rs. 6 crores of the cash has been maintained in fixed deposits for safety. The fund has bank deposits totaling more than Rs. 18.34 crores.
In the month of Kartik, the fund’s net asset value (NAV) is Rs. 10.83. Rs. 10.66 had been the rate in the previous month. There is a profit of more than Rs. 3.79 crores in the “NIC Asia Dynamic Debt Mutual Fund.” Before that, there had been a profit of Rs. 2.99 crores in the previous month.
The NAV report for the NIC Asia Select-30 (Index Fund) has also been released. It is a closed-end mutual fund having a maturity period of seven years, known as the “NIC Asia Select-30 (Index Fund).” The fund began with a total of 10 crore units, with each unit having a par value of Rs. 10 and a total size of Rs. 10 crore. Because the public offering was oversubscribed, the fund’s size has been increased to 125 percent of its initial size, which means that 25 percent extra units have been added to the fund.
In the month of Kartik, the fund’s net asset value (NAV) is Rs. 10.08. In the previous month, the NAV was Rs. 9.93 per share. The fund has made investments of Rs. 14.3 crores in listed stocks and Rs. 21.66 lakhs in non-listed stocks. The fund has Rs. 11 crores in fixed deposits and Rs. 1 Arba in the bank, according to the latest available information. In the meantime, it has additional assets worth Rs. 24.83 lakhs, according to the company.
According to Ashwin, the fund has made a profit of Rs. 1.69 crores. It had suffered a loss of Rs. 11.29 lakhs in the month before that period.
It has published its monthly NAV report for the month of Kartik 2078, which shows that the fund’s NAV was Rs. 15.8 for the month. NIC Asia Growth Fund (NICGF) is a closed-end 7-year mutual fund scheme administered by NIC Asia Capital Limited with NIC Asia Bank Limited as the fund sponsor. In the previous month, the NAV was Rs. 15.49, according to the company.
With an initial capital amount of Rs.83.52 crores, the program has so far invested Rs. 99.43 crores in the shares of publicly traded firms and Rs. 2.02 crores in the shares of unlisted companies. Fixed deposit programs have attracted an investment of Rs. 12.35 crores from the company. This scheme now has a bank balance of Rs. 11.1 crores and debentures worth Rs. 6.37 crores.
It has declared a net profit of Rs. 45.56 crores for the month of Kartik, compared to a profit of Rs. 42.98 crores for the month before that, according to the company’s financial statements.
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