National Investment Trust Limited (NIT) announced cash dividends for all the funds under the management. NIT manages 10 funds with a total worth of Rs. 98 billion on June 30th, at the end of the financial year 2017-18.
NIT’s board of directors, in their meeting, discussed the accounts of the fund. NIT Managing Director Manzoor Ahmed briefed the board members about the performance of different funds. The board approved accounts for the fiscal year ended on June 30th of 8 funds managed under NIT. Performance of different funds and their income during the fiscal year 2017-18 is as under.
- National Investment Unit Trust (NIUT)
The board observed that despite difficult and challenging conditions in Pakistan Stock Market, NIUT was able to secure Rs. 2.534 billion. Per unit income was at Rs 2.64. The board approved a cash dividend for NIUT fund holders at Rs. 2.33 per unit. NIT will distribute Rs. 2.23 billion in dividend. The fund’s net asset value at the end of June 30th, 2018 was at Rs. 70.775 billion.
- NIT – State Enterprise Fund:
The board approved a cash dividend of Rs. 1 per unit. During the fiscal year, the fund’s net income stood at Rs. 196 million and per unit income was at Rs. 1.30 per unit. The total asset value of the fund was Rs. 2.637 billion.
- NIT – Equity Market Opportunity Fund:
NIT board approved a cash dividend of Rs. 10 per unit for NIT-EMOF. The fund’s net income was Rs. 584 million and per unit income was at Rs. 14.89. The net assets at the end of June 2018 were recorded at Rs. 8.657 million.
- NIT-Islamic Equity Fund (IEF):
NIT-IEF faced losses during the fiscal year 2017-18. Due to losses, the fund’s overall value reduced to Rs. 86 million, while per unit loss is Rs. 0.21 per unit. The net asset value of NIT-IEF was at Rs. 4.134 billion on June 30th.
- NIT Government Bond Fund (GBF):
NIT-GBF net income was at Rs. 206 million and announce a cash dividend of Rs. 0.5348 per unit. The total asset value was Rs. 4.041 billion.
- NIT Income Fund (IF):
For the fiscal year ended at June 30th, NIT-IF issued a cash dividend of Rs.0. 5746 per unit for the full year. Net income of IF was Rs 5.574 million.
- NIT- Money Market Fund:
This fund was formally Government Treasury Fund and is now called Money Market Fund. It announced to deliver Rs. 0.6693 cash dividend at the end of FY 201-18. The net asset value was Rs. 1.322 million at the end of the financial year.
- NIT-Islamic Income Fund:
Islamic Income Fund will deliver a cash dividend Rs.0.5810 per unit and the total value of the fund stood at Rs. 26 million. The net value of the fund was at Rs. 549 million.
