KARACHI-National Investment Trust Limited (NITL), Pakistan’s first and premier asset management company, has declared its annual results for its funds under management for the year ended 30th June 2020.

This was announced by Managing Director NITL, Adnan Afridi on July 07, 2020 after its Board of Directors approved the annual results of all Funds under its management. He further stated that during the year under review NIT launched two new funds, one being an Asset Allocation fund (NIT-AAF) and the other being Pakistan’s first Exchange Traded Fund (NIT-PGETF). He was also pleased to note that the vast majority of NITL funds under management outperformed their benchmarks by a significant margin.

NI(U)T Fund

Despite challenging macroeconomic conditions and the impact of Covid-19, NIT has maintained its 57 year track-record of consistently paying dividends and declared a cash dividend of Rs.1.29 per unit for its unit holders of NI(U)T Fund. The payment of dividend @ Rs.1.29 per unit translates to a payout of Rs1.154 billion among its unit holders.

The MD stated that during FY20, the Fund earned a total return of 6.38% where its NAV appreciated from Rs.52.85 (ex-dividend) as on 30.06.19 to Rs.56.22 as on 30.06.20 against the benchmark KSE-100 index which increased by 1.53%. NIUT Fund outperformed its benchmark by a healthy 4.85%.

NIT-State Enterprise Fund (NIT-SEF)

NIT has declared a cash dividend of Rs.0.16 per unit for unit holders of NIT-State Enterprise Fund for the year ended on June 30, 2020.

NIT – Equity Market Opportunity Fund (NIT-EMOF)

NIT has declared a per unit cash dividend of Rs.4.21for unit holders of NIT Equity Market Opportunity Fund for the year ended on 30th June 2020.