The NIC Asia Balanced Fund (NICBF), a 10-year mutual fund scheme managed by NIC Asia Capital, has released its financial highlights for the month of Bhadra, which can be found on the fund’s website. The net asset value (NAV) for the period was Rs. 14.57, down from the previous month’s NAV of Rs. 18.65. The decrease in NAV is the result of a 30 percent reduction in dividend payments.
When the programme first launched, the fund had a total size of Rs.75.50 crores, which included initial cash from the fund sponsor. The plan has made investments in shares of publicly traded businesses worth Rs. 79.56 crores and in debentures worth Rs. 15.42 crores. The amount invested in fixed deposits currently stands at Rs. 10.3 crores, while the bank’s current account balance is Rs. 3.52 lakhs.
As of the end of Bhadra, the plan had declared a net profit of Rs. 33.1 crores, which was lower than its net profit of Rs. 41.26 crores in the preceding months.
Additionally, the NAV report for the “NIC Asia Dynamic Debt Mutual Fund” has been made public as well.
In contrast to Nepal’s mutual fund schemes, which invest mostly in equities, with the exception of the NIBL Sahabhagita Fund, which invests in both equities and debt, the “NIC Asia Dynamic Debt Mutual Fund” will invest primarily in debt instruments, such as debentures.
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 programmes 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.
It has made investments in listed stocks worth slightly more than Rs. 8.85 crores and non-listed stocks worth slightly more than Rs. 13.07 lakhs. In addition to investments in listed and non-listed debentures totaling about Rs. 13.06 crores and Rs. 6.53 crores, Rs. 3 crores of the fund is invested in fixed deposits. The fund has bank deposits totaling more than Rs. 20.59 crores.
The net asset value (NAV) of the fund in Bhadra is Rs. 10.66. Rs. 10.64 had been the rate in the previous month. The “NIC Asia Dynamic Debt Mutual Fund” has made a profit of more than Rs. 2.96 crores since inception. The profit for the month prior to that was Rs. 2.05 crores.
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.
The fund’s net asset value (NAV) is Rs. 9.94. Listed shares have received Rs. 10.46 crores from the fund, while non-listed shares have received Rs. 3.33 lakhs. Fixed deposits amount to Rs. 10 crores, and the fund has Rs. 1.03 billion in bank accounts. While this is happening, it owns other assets worth Rs. 1.61 lakhs.
The fund has suffered a loss of Rs. 7.93 lakhs as a result of this. Profit of Rs. 68.06 lakhs was made the month before that, putting it in the black.