NIT fund becomes best performer

KARACHI: NIT’s government bond fund (NIT-GBF) has earned the distinction of becoming both the largest and best performing fund in highest-rated sovereign income category with AUMs exceeding Rs4.8 billion and YTD annualised return of 18.05 percent as on April 30, a statement said on Monday. Adnan Afridi, managing director of NITL, commended the fund management team for outperforming the benchmark index.“In Income Funds (Sovereign) category, it is difficult to outperform the benchmark by a significant margin; however, NIT’s GBF has exceeded benchmark returns by 5.11 percent p.a., which reflects the caliber of our fund management team.”