NIT - Leads in Mutual Fund Industry

Written by  Published by:Pakistan Views Thursday, 26 February 2015 18:40

KARACHI: National Investment Trust announced half-yearly results for various funds under management.  NIT maintained its leadership position in the mutual fund industry, with assets under management of Rs. 96 billion on 31st December 2014, increasing by 17 percent, from Rs. 82 billion on 30th June 2014.

The assets under management for the flagship fund, NI(U)T increased by 21.6 percent to Rs. 73 billion as on 31st December 2014, from Rs. 60 billion as on 30th June 2014.  Net Asset Value (NAV) for NIUT increased to Rs. 66.03 as on 31st December 2014, translating into a return of 16.68 percent, as against benchmark (KSE-100) return of 8.32 percent.  NIUT outperformed the benchmark KSE-100 index by 8.36 percent.

A downward shift in term structure also benefited income funds managed by NIT. The assets under management for NIT-Government Bond Fund (NIT-GBF) increased 88 percent to Rs. 7.9 billion as on 31st December 2014, from Rs. 4.2 billion as on 30th June 2014. YTD Return for NIT-GBF was 15.32 percent, exceeding the benchmark by 6.25 percent.

Similarly, assets under management for NIT-Income Fund increased by 9 percent to Rs. 3.6 billion as on 31st December 2014, from Rs. 3.3 billion as on 30th June 2014.  NIT-IF posted YTD return of 15.92 percent, beating benchmark by 5.87 percent.  Exposure to long-dated Pakistan Investment Bonds enabled the income funds to realize capital gains, due to decrease in interest rates during the period. NIT-IF also benefited from reversal of provisioning, as overall credit quality of portfolio improved.

Among other equity funds under management, NIT-State Enterprise Fund (NIT-SEF) posted YTD return of -4.21 percent, whereas NIT-Equity Market Opportunity Fund posted YTD return of 7.18 percent.

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