NIt Declares Dividends for Funds Under its Management

Karachi: National Investment Trust Limited (NITL) has announced financial results for the funds under its management for the year ended June 30, 2021. The flagship NI(U)T declared cash dividend of Rs1.61 per unit against a dividend of Rs1.29 the previous year. The payment of dividend at Rs1.61 per unit would translate into pay out of Rs1.38bn to the unit holders.

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% 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.

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