KARACHI: The National Investment Trust (NIT) posted assets under management at Rs96 billion at Dec 31, 2014, representing a growth of 17 per cent over the six months from Rs82bn at June 30, 2014.

The trust also released results of various funds under its management, on Thursday.

The NI(U)T flagship fund recorded a growth of 21.6pc to Rs73bn at end December from Rs60bn at close on June 30. Net Asset Value (NAV) for NI(U)T rose to Rs66.03 as on Dec 31, which worked out to a return of 16.68pc.

The fund outperformed the KSE-100 index by 8.36pc since the market benchmark gave return of 8.32pc in the same period.

The NIT said in a statement that the ‘downward shift in term structure also benefited income funds managed by NIT’.

The assets under management for NIT-Government Bond Fund (NIT-GBF) increased 88pc to Rs7.9bn as on Dec 31, 2014, from Rs4.2bn as on June 30, 2014. YTD Return for NIT-GBF was 15.32pc, outperforming the benchmark by 6.25pc.

Similarly, assets under management for NIT-Income Fund increased by 9pc to Rs3.6bn as on Dec 31, 2014, from Rs3.3bn as on June 30, 2014.

NIT-IF posted YTD return of 15.92pc, beating benchmark by 5.87pc.

“Exposure to long-dated Pakistan Investment Bonds enabled the income funds to realise capital gains due to decrease in interest rates during the period,” NIT stated and added that the 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 negative return of 4.21pc, whereas NIT-Equity Market Opportunity Fund posted YTD return of 7.18pc.

Published in Dawn, February 27th, 2015

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