NITL Declares Dividends For Funds For FY22

NITL Declares Dividends For Funds For FY22

July 06, 2022: National Investment Trust Limited (NITL) announced its annual results for the funds under management for the year ended June 30, 2022.

NITL has paid a total dividend of over Rs4.77 billion for the year FY22, representing an impressive 73% growth over the previous year. Mr Adnan Afridi, MD NITL, said all fixed income and money market funds performed well and generated competitive returns during the year.

However, due to economic and political uncertainties, the overall stock market (KSE – 100 index) declined 12% in FY22, just as our equity funds performed in line with the market.

He said that in line with our objective of providing diversification to our participants through innovative products, NITL in FY22 has launched NIT Social Impact Fund (NIT – SIF) and NIT Islamic Money Market Fund (NIT-IMMF). NIT Social Impact Fund (NIT – SIF) is an open-end microfinance sector-specific income fund that will channel funds for financial returns and sustainable social impact.

NIT Islamic Money Market Fund is said to provide a competitive return by investing primarily in low-risk, highly liquid Shariah-compliant money market and debt instruments. He further said that NITL is in the process of launching the NIT Pakistan Technology ETF, the first-ever IT Sector ETF in Pakistan.

He said that during the year 2021-22, NITL has maintained AM1’s highest asset management rating by accredited rating agencies, PACRA and VIS Credit Rating Co. Ltd. This is the best wealth management rating for wealth management companies.

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Adnan Afridi hoped that unitholders would continue to invest in confidence and that NITL management could manage their portfolios.

NI(U)T Fund

Despite challenging macroeconomic and market conditions, NIT has maintained its 59-year history of consistently paying dividends and declared a cash dividend of Rs2.44 per share for unitholders of NI(U)T Fund against the dividend of Rs. 1.61 last year ie an increase of 51.56% compared to last year. The payment of dividends @ Rs2.44 per unit translates into a payout of Rs2.00 billion among the participants.

NIT Money Market Fund (NIT MMF):

During FY22, NITL paid a cumulative cash per unit dividend of Rs. 0.9789 for unitholders of NIT Money Market Fund in the form of twelve interim payouts.

In the year under review, the Fund achieved an annualized return of 10.79% per annum compared to the benchmark return of 9.28% per annum, an outperformance of 1.51%. During FY22, NIT Money Market Fund’s net assets grew by almost 51% to Rs18,592 million on June 30, 2022 compared to Rs12,302 million on June 30, 2021.

NIT Islamic Money Market Fund (NIT IMMF):

From its launch on September 23, 2021 to June 30, 2022, NITL has paid a cumulative unit cash dividend of Rs 7.3553 to unitholders of NIT Islamic Money Market Fund in the form of interim payouts.

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In the year under review, the Fund achieved an annualized return of 10.23% per annum compared to the benchmark return of 3.78% per annum and an outperformance of 6.45%. The net assets of the NIT Islamic Money Market Fund were Rs2,603 ​​million as of June 30, 2022.

NIT Islamic Income Fund (NIT-IIF):

NIT has announced a cash dividend per unit of Rs. 0.8374 for unitholders of the NIT Islamic Income Fund for the year ended June 30, 2022. During FY22, the Fund generated an annualized return of 9.67% per annum compared to the benchmark return of 3.34% per annum and posted this represents a significant outperformance of 6.33%. On June 30, 2022, the fund’s net assets were Rs. 830 million.

NIT Income Fund (NIT-IF):

NIT has a cash dividend of Rs. 1.0339 per share for unitholders of NIT Income Fund for the year ended June 30, 2022. During FY22, NIT-IF delivered an annual return of 10.64% per annum. The net assets of the fund were Rs 3,716 million as of June 2022.

NIT Government Bond Fund (NIT-GBF):

NIT has announced a cash dividend per unit of Rs. 0.8753 for unitholders of NIT GBF for the year ended June 30, 2022. During FY22, NIT GBF achieved an annual return of 9.32% per annum. The net assets of the fund were Rs 3,008 million as of June 2022.

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NIT – Equity Market Opportunity Fund (NIT-EMOF)

NIT has announced a cash dividend per unit of Rs. 10:00 am for unitholders of NIT Equity Market Opportunity Fund for the year ended June 30, 2022. During FY22, the net assets of the fund were Rs 6,818 million as at June 30, 2022.

NIT – Islamic Equity Fund (NIT-IEF)

NIT has announced a cash dividend per unit of Rs. 0.35 for unitholders of NIT Islamic Equity Fund for the year ended June 30, 2022. During FY22, the net assets of the fund were Rs 2,574 million.

NIT State Enterprise Fund (NIT-SEF)

NIT has a cash dividend of Rs. 0.64 per share for unitholders of NIT-State Enterprise Fund for the year ended June 30, 2022. The net assets of the fund were Rs 1,257 million as at June 30, 2022.

NIT-Social Impact Fund (NIT-SIF)

NIT has a cash dividend of Rs. 0.1615 per share for unitholders of the NIT-Social Impact Fund for the year ended June 30, 2022. During FY22, NIT-SIF delivered an annualized return of 14.93% per annum. The net assets of the fund were Rs 735.22 million on June 30, 2022.

Press release

Posted on: 2022-07-06T23:48:04+05:00

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