Both NIBL Samriddhi Fund-1 and NIBL Pragati Fund operated by NIBL Ace Capital, a subsidiary company of Nepal Investment Bank have recorded slip in NAV in the month of mid-June/mid-July in compare to the month of mid-May to mid-June.
NIBL Samriddhi Fund-1
NIBL Samriddhi Fund-1 has occurred net loss of Rs 185.3 million in the month of mid-June to mid-July which is Rs 20.8 million more than the previous month. In the previous month, the loss was Rs 164.5 million.
Similarly, its NAV also slipped to Rs 11.29 from earlier Rs 11.50. The fund with Rs 1 billion in capital has invested in stock of 80 companies worth Rs 778.6 million. Similarly, it has invested Rs 26.1 million in public issues, right and bonus. The fund that invested Rs 43 million in debentures and bonds has kept Rs 100 million in fixed deposit. The bank has Rs 198.6 million bank balances as of mid-July 2018.
NIBL Pragati Fund
Similarly, the net loss of NIBL Pragati Fund, another mutual fund of NIBL Ace Capital has also increased to Rs 167.6 million in the last month compared to Rs 150.1 million in the previous month.
The increased loss has decreased its NAV to Rs 7.81 compared to Rs 8.04 of the previous month.
With Rs 750 million funds, the mutual fund has invested Rs 527.1 million in various stocks of 66 companies, Rs 28 million in public issue and Rs 25.2 million in fixed deposit.
