Nabil Invest as the fund manager of Nabil Balanced Fund-I (NBF-I) has announced 14 percent cash dividend to the unit holders of NBF-I from the distributable profit post-audit of the fiscal year 2013-14. The said the dividend was approved by the board of the fund manager on August 24 and by the fund supervisors on August 26.
The book closure date for dividend entitlement has been defined as September 4 (one day). The unit holders buying the units before September 4 and ensuring that the unit has been transferred to their respective names as of the defined cut-off date by handing over the related documents with the Depository—Nabil Invest will be entitled to receive the dividend.
Nabil Invest manages NBF-I, a closed end balanced fund under Nabil Mutual Fund. The scheme size is Rs 750 million and its net asset value (NAV) stood at Rs 18.57 per unit. Further, the fund manager in its offer document for NBF-I approved by the Securities Board of Nepal (Sebon) had envisaged a 7 percent dividend payout for the first year.
Nabil Invest is a subsidiary of Nabil Bank and provides investment banking related services to the public. It is licensed by Sebon as a Securities Businessperson to undertake merchant banking activities in Nepal.
Nabil Invest is also licensed to render services of portfolio manager and fund manager and depository of Nabil Mutual Fund. The promoter of Nabil Invest is Nabil Bank while CG Finco is an institutional investor.