Finance

NITL declares dividends for funds under its management

Karachi, July 7, 2021: National Investment Trust Limited (NITL), has declared its annual results for its funds under management for the year ended 30th June 2021.

Mr. Adnan Afridi MD NITL, said that despite the economic effects and challenges of the pandemic, majority of funds managed by the National Investment Trust Limited have generated a competitive return. He said through timely and effective decisions under the guidance of the NITL’s Board, the rate of return for unit holders of different funds has continued their growth momentum.

He said last year NIT introduced Asset Allocation fund (NIT-AAF) and Pakistan’s first Exchange Traded Fund (NIT-PGETF) which attracted investors and performed well. NITL is in process of launching NIT Social Impact Fund (NIT – SIF) and NIT Islamic Money Market Fund (NIT-IMMF). NIT Social Impact Fund (NIT – SIF) is an open-end Micro Finance Sector Fund that shall channelize funds of impact investors to leverage on the strengths of rated asset pool of Micro-Finance Sector, for financial returns and sustainable social impact.

He said during the year 2020-21 NITL has achieved the highest asset manager rating of AM1 by accredited rating agencies, PACRA and VIS Credit Rating Co. Ltd.  This is the top-quality asset management rating for asset management companies.

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Adnan Afridi hoped that the NIT stakeholders would continue to invest in trust and allow NITL management to manage their portfolios.

NI(U)T Fund

Despite challenging macroeconomic conditions and the impact of Covid-19, NIT has maintained its 58 years track-record of consistently paying dividends and declared a cash dividend of Rs. 1.61 per unit for its unit holders of NI(U)T Fund against the dividend of Rs. 1.29 last year. The payment of dividend @ Rs. 1.61 per unit translates to a payout of Rs. 1.38 billion among its unit holders.

The MD stated that during FY21, the Fund earned a total return of 37.14% where its NAV appreciated from Rs. 54.93 (Ex-Dividend) as on (Date30-06-2020) to Rs. 75.33 as on (Date 30-06-2021).

NIT Money Market Fund (NIT MMF):

During FY21 in the form of twelve interim payouts, NIT has already paid a cumulative per unit cash dividend of Rs. 0.6905 for unit holders of NIT Money Market Fund.

During the year under review, the Fund yielded an annualized return of 6.80% p.a. compared to the benchmark return of 6.70% p.a. an outperformance by 0.10%. During FY21 net assets of NIT Money Market Fund grew by almost 155% and stood at Rs. 12,302 million as of 30th June 2021 as compared to Rs. 4,824 million as of 30th June 2020.

NIT – Equity Market Opportunity Fund (NIT-EMOF)

NIT has declared a per unit cash dividend of Rs. 5.00 for unit holders of NIT Equity Market Opportunity Fund for the year ended on 30th June 2021. During FY21, the Fund earned a total return of 37.43%.

NIT Income Fund (NIT-IF):

NIT has declared a cash dividend of Rs. 0.6332 per unit for unit holders of NIT Income Fund for the year ended on 30th June 2021. During FY21, NIT IF yielded an annualized return of 6.37% p.a.

NIT Government Bond Fund (NIT-GBF):

NIT has declared a per unit cash dividend of Rs. 0.5101 for unit holders of NIT GBF for the year ended on 30th June 2021. During FY21, NIT GBF yielded an annualized return of 4.99% p.a.

NIT – Islamic Equity Fund (NIT-IEF)

NIT has declared a per unit cash dividend of Rs. 0.23 for unit holders of NIT Islamic Equity Fund for the year ended on 30th June 2021. During FY21, the Fund earned a total return of 33.33%.

NIT-State Enterprise Fund (NIT-SEF)

NIT has declared a cash dividend of Rs. 0.24 per unit for unit holders of NIT-State Enterprise Fund for the year ended on June 30, 2021.

NIT Islamic Income Fund (NIT- IIF):

NIT has declared a per unit cash dividend of Rs. 0.8071 for unit holders of NIT Islamic Income Fund for the year ended on 30th June 2021.

During FY21, the Fund generated an annualized return of 6.32% p.a. compared to the benchmark return of 3.56% p.a. hence an outperformance by a significant 2.76%. As of 30th June 2021, the net assets of the Fund stood at Rs. 818 million.

NIT Asset Allocation Fund (NIT- AAF):

NIT has declared a per unit cash dividend of Rs. 1.8358 for the unit holders of NIT Asset Allocation Fund for the period ended on 30th June 2021. During FY21, the Fund generated an annualized return of 20.78%.

NIT Pakistan Gateway Exchange Traded Fund (NIT- PGETF):

NIT has declared a per unit cash dividend of Rs. 0.90 for unit holders of NIT Pakistan Gateway Exchange Traded Fund for the year ended on 30th June 2021. During FY21, the Fund generated an annualized return of 19.71%.

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