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Saturday, January 19, 2013

Fifty Years of National Investment Trust. NIT. (2013-23)





50Th Anniversary of National Investment Trust Ltd. (NITL) Commemorative Postage Stamp November 21, 2012:- It is an occasion of immense pleasure and pride for NIT to complete its 50 years of successful operations in the mutual fund industry. The institute has been providing un-tiring service to small, medium and large investors and has now entered the period to commemorate celebrations of its Golden Jubilee.
National Investment Trust Limited (NITL) is the pioneer Asset Management Company in Mutual Fund Industry and carries a market share of around 18% of the entire mutual funds industry where as NIT’s equity funds constitute 86% of the industry’s open end equity funds. It was established in 1962 and has the credit of being the First and Largest Asset Management Company of Pakistan with the Net Assets under its management of around Rs. 74 Billion as on June 30, 2012.
NIT’s Mission is to serve the investors by providing best possible return on their investments and to invest in the Capital Markets in a manner, which could provide depth for the investors’ and necessary capital to the industry. Over vision is to be recognized as the beacon of positive change in the Capital Markets. Leading by example, with an aim to provide the necessary opportunity to all the stakeholders and to contribute towards healthy growth of the Mutual Fund Industry.
NIT’s operational network spreads all over the country with 23 own branches and 01 centralized Investors’ Faciliation Center (IFC) in Karachi. In addition, various authorized bank branches are facilitating our investors. The Company is also represented in Dubai (UAE) by Arab Emirates Investment Bank (AEIB) and is catering to the needs of around 57,256 unit holders as on June 30, 2012. NITL has assigned a credit rating of AM2 – by PACRA, which reflects that the company has a very strong capacity to manage risks.
Over the years, NITL has expanded its product line to meet requirements of the investors depending upon their risk absorption appetite. Presently, the Company is managing a total of Five Funds, 3 Equity and 2 Fixed Income Funds.
Equity Funds:- i) NI(U)T Fund:- It is NIT’s flag carrier Open Ended Equity Fund and was launched in November 1962. Net assets of the Fund as on June 30, 2012 amounted to Rs. 41.487 billion. As on August 31st 2012, around 91.52 percent of the Fund remained invested in equities with around 36 percent investment in Oil & gas and Banking Sectors. The core objective of the Fund is to maximize return for Unit Holders and to provide a regular stream of current income through dividends. In addition, long-term growth is achieved through management of a diversified portfolio and investments in growth and high yielding equity securities. The risk profile of the fund is moderate to high and the fund provided a 10 year annualized return of 21.81% during FY12, NI(U)T earned a return of 7.57%. During its entire life history, the Fund has been consistent in paying dividends to its unit holders and has paid a per unit dividend of Rs. 3.50 in FY12.
ii) NIT-State Enterprise Fund (NIT-SEF):- NIT-State Enterprise Fund (NIT-SEF) was launched in January 2009 with an objective to take advantage of market conditions and acquire a selection of Eligible Stocks thereby creating an opportunity for investors to achieve superior returns. The Fund has an investment mandate to invest in eight state owned / controlled enterprises. It is an Open Ended Equity Fund, with moderate to high risk profile. The fund earned a return of 6.1% in FY12 whereas its return since inception until August 31, 2012 has been 199.23% against the benchmark return of 154.77%. The Fund paid a per unit @ 9.30% on the face value of Rs. 50/- for the unit holders of NIT-SEF in FY12. NIT will shortly offer this Fund to general public for investment.
iii) NIT-Equity Market Opportunity Fund (NIT-EMOF):- This Open Ended Equity Fund was launched in July 2008 with an objective to invest funds in the Equity Market at a time when Management Company of the Fund has reasons to believe that there is an opportunity to invest the Fund in a gainful manner and such investment is in the benefit of the Fund taking a long term perspective. The Fund generated a return of 18.04% for its investors in FY12 whereas its return since inception until August 31, 2012 has been 63.41%.
Fixed Income Funds:- i)NIT Government Bond Fund (NIT-GBF):- NIT Government Bond Fund was launched on 18th November 2009 with the objective to generate best possible return with minimum risk for its Unit Holders by primarily investing in securities issued by government of Pakistan. The risk profile of the Fund is low. As of August 31, 2012 95.08% of the Fund is invested in Treasury Bills. The total annulized return of the Fund during FY12 was 9.76%. Further since inception until August 31, 2012 NIT-GBF earned an annualized return of 11.82% against benchmark of 140.81%. With anticipation of further easing in the policy rates, NIT-GBF has increased its weighted average time to maturity of portfolio from 154 days to 185 days.
ii: NIT Income Fund (NIT-IF):- This Open End Income Fund was launched on 19th February, 2010 with an objective to generate a competitive stream of return with moderate level of risk for its investors. The Fund is primarily invested in a diversified portfolio comparising of high quality debt Securities & Instruments. As of August 31, 2012, around 62.27 percent of the Fund is invested in Treasury Bills whereas majority of the remained is invested high quality TFCs. The total annulized return of the fund during FY12 was 12.34% whereas, since inception until August 31, 2012 return has been 12.96% against benchmark rate of 12.71%.
NIT is commemorating 2012 as its Golden Jubilee Year. Special Giveaways are prepared to share with our clients and unit holders on this momentous occasion. Newspapers will publish special supplements on 12th November 2012. Pakistan Post is issuing a collection stamp in commemoration of achieving this milestone by a National Organization.
On the occasion of 50th Anniversary of National Investment Trust Ltd. (NITL), Pakistan Post is issuing a commemorative postage3 stamp of Rs. 15/- Denomination on November 21, 2012.