NIC ASIA Balanced Fund

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NIC ASIA Balanced Fund

NIC ASIA Balanced Fund
Scheme Name	NIC ASIA Balanced Fund
Scheme Nature	Balanced Fund
Approved Scheme Size	NPR 1,25,00,00,000 (One Arba and Twenty-five Crore)
Scheme Size	NPR 75,50,00,000 (Seventy-five Crore and Fifty Lakhs)
Scheme Type	Close ended
Approved Number of issued units	NPR 12,50,00,000 (Twelve Crore and Fifty Lakhs)
Number of issued units	7,55,00,000 ( Seven Crore and Fifty-five Lakhs)
Per unit Price	Rs. 10 (Ten Rupees)
Scheme Maturity Date	10 years from the date of allotment
Minimum Purchase Units	100 (One Hundred)
Maximum Purchase Units	1,75,00,000 (One Crore Seventy-Five Lakhs); 14% of the total issue
Fund Sponsor	NIC ASIA Bank Limited, Thapathali, Kathmandu
Fund Sponsor	“[CARE-NP] A (Is) (Reaffirmed)”
Seed Capital Investment	Fund Sponsor: NIC ASIA Bank Limited and Fund Manager: NIC ASIA Capital Limited will collectively invest 15% of the total asset of the scheme as seed capital in the NIC ASIA Balanced Fund
Fund Supervisors	1.Mr.Mahendra Nath Karmacharya- M.COM, Over 30 years of Experience in Banking and Financial Sectors.
	2. Mr. Ashish Adhikari – LM, Involved in legal practices for over 20 years.
	3. Mr. Bodh Raj Niraula -Master in Economic (ME), Over 32 years of experience in government service including ministry of finance.
	4. Mr. Santosh Lamichhane – CPA, ACCA, MBS Over 15 years of experience in Auditing.
	5. Mr. Shiva Raj Ghimire – MBA, Over 16 years of experience in teaching and education, currently vice president of Saraswati Bahumukhi Campus.
	6. Mr. Bishal Sigdel - CA, MBA, Over 17 years experience in banking and consultation.
	7. Mr. Narayan Sundar Silpakar - CA, MAE, Over 20 years experience in banking and auditing.
Fund Manager and depository	NIC ASIA Capital Limited (Subsidiary of NIC ASIA Bank Limited)
Fund Manager and depository	“[ICRANP] AMC Quality 3 (AMC3)” (Reaffirmed): Adequate Assurance on Management Quality.
Scheme profit distribution Approach	Profit shall be distributed based on the ratio of net profit earned by the scheme as deemed appropriate considering the funds net assets position and investment plan.
Who can purchase the units?	Resident and Non-resident Nepalese citizens, Registered Nepalese firms, Unions, Organizations, BFIs, Fund set-up by any class or group such as EPF, Welfare funds, “guthi”, etc.
Asset Allocations	This scheme will invest in a combination of or in all the following instruments as stipulated by Rule 34 of the prevailing Mutual Fund Regulation:
	a) Securities registered with SEBON
	b) Securities called for public offering
	c) Securities listed in the Nepalese Stock Exchange
	d) Debentures, Treasury Bills and other instruments of money market issued by Government of Nepal or Government Agencies receiving full guarantee or protection of Government of Nepal or NRB
	e) Bank Deposits
	f) Money Market instruments
	g) Other areas prescribed by SEBON
Fund related expenses/fees:
	SEBON registration fee: NPR 10,00,000. (10 lakh).
A. Expense related to fund issuance	Other issue related expenses: Charges related to promotion, application, allotment, refund, processing fee and other legitimate charges.
	1. Fund Supervisor’s Fees: 0.10% of asset under management (AUM), calculated as per SEBON’s regulation.
B. Fund’s recurring/operating expenses	2. Scheme Management fee: 1.5% of the AUM calculated as per SEBON’s regulation.
	3. Depository fees: 0.2% of the AUM calculated as per SEBON’s regulation.
	4. Listing and renewal fees: As stated by Nepal Stock Exchange
	5. Audit fees: NRs.113,000 for the first year, increased by 10% every two years and fixed after year 5 for remaining year.
	6. Notices and Advertisement: NRs 250,000 per annum and increased by 5% up to year 5
	7. Legal fee: NRs 50,000 for the first year and increased by 10% up to year 5.
	8. CDS registration fee and applicable tax required to be paid by scheme.
	(Unless stated by SEBON additional expenses will not be levied on above mentioned headings. Prior approval from SEBON is required to incur additional expenses.)
Charging Schedule	Quarterly
Accounting Policies	1. Generally Accepted Accounting Principles (GAAP)
	2. Directives as per Company Act and SEBON
	3. Nepal Financial Reporting Standards (NFRS).
Benefits and rights of the unit holders	1. Collect the fund dividend distributed by the fund
	2. Right to sell or purchase the units in the secondary market
	3. Right to fund cancellation
	4. Right to file complaints to fund manager, fund supervisors and SEBON
Risks associated with mutual fund investment	Mutual Fund Investments are subject to market risks.