Nepal’s first open-ended scheme after Mutual Fund Regulation 2067, NIBL Sahabhagita Fund, has been opened for transaction from October 10. As per the provision, the scheme has to be opened for transaction after three months from the date of allotment of units. The units can be transacted (repurchase and sell) from the head office of NIBL Ace Capital Limited at Lazimpat and from various branches of NIBL Ace Capital located at Birgunj, Biratnagar, Butwal, Pokhara, Lal Durbar and Lagankhel. The units can also be transacted from various branches of Nepal Investment Bank located at Birtamod, Lalbandhi, Birjung, Sipadol, Narayanghad, Hetauda, Nepalgunj, Tulsipur, Surkhet and Dhangadi.
On the very first day of transaction, a total of 2800 units were sold and 1500 units were repurchased. As per the information provided by the fund manager, investors were enthusiastic to know about the features of Systematic Investment Plan (SIP) and were interested to know about the open-ended scheme in detail. Nepal Investment Bank is the fund sponsor and the scheme is managed by NIBL Ace Capital.