NIT, A PREMIER INVESTMENT ANNOUNCED RECORD DIVIDEND FOR 2007
July 30 - Aug 05, 2007
National Investment Trust (NIT) has recently announced a record dividend of Rs6.20 per unit for financial year 2007 as compared with Rs5.80 per unit for financial year 2006.
The net assets of the NIT had grown by 57 percent from Rs64.296 billion on June 30, 2006 to Rs100.963 billion on June 30, 2007.NAV per unit has grown from Rs43.07 to Rs62.38, showing a growth of 44.83 percent. The premier mutual fund of the country has once again outperformed the benchmark KSE-100 index by 6.96 percent.
NIT had realized an all-time high capital gains of Rs16.818 billion in financial year 2007 as compared with Rs6.805 billion recorded last year, showing a growth of 147 percent in capital gains of the NIT. This huge capital gains realized by the Trust was mainly attributable to the block sale of the NIT's holding in Lakson Tobacco, PICIC, Prime Bank, gains through rightsizing of portfolio as well as gains realized through normal trading activities. The gains realized through rightsizing of portfolios stood at Rs11.07 billion.
The NIT earned a net income of Rs19, 813 million, which was the highest-ever net income earned by the NIT in its entire life. The net income of the NIT depicts a growth of 114.52 percent increasing to Rs19, 813 million in financial year 2007 from Rs9, 236 million in financial year 2006.
This translates into the record earning per unit of Rs12.24 in financial year 2007 as compared with the earning per unit of Rs6.19 earned by the NIT in financial year 2006, thus earning per unit for the financial year 2007 surpassed last year's highest-ever per unit mark by 97.74 percent.
The major unit holders of NIT are National Bank (NBP), Bank of Punjab (BOP), Faysal Bank (FABL) and Pakistan Reinsurance (PAKRI).
National Investment Trust commenced its operations from January 1963 and its functions are regulated, apart from the Trust Deed, by the National Investment (Unit) Trust Ordinance, 1965. The Government of Pakistan established NIT, in order to encourage the broad basing of the ownership of the growing Industrialization in the Country.
NIT holds the largest mutual fund in Pakistan. Established in 1962, it is the Stock Market's Largest Single Investor. NIT investment is in 500 out of 725 listed Companies with significant holdings in small to medium sized companies. It has a track record of paying regular dividends since 1964.A Network of Sale Outlets spread across the country including 19 branches, 2 UBL sales counters in Karachi and 150 authorized branches. It offers its investors the advantage of a well diversified portfolio. It has an over 40 years experience in Investment Options.
The advantages of investing in NIT includes:
Strict Adherence to Government Regulations
Full Disclosure and Ease of Record Keeping
NIT provides investors a convenient access to Pakistan's growing equity markets.
It minimizes the risk of direct investment in stock market.
The Investor may start his portfolio even with a small investment of Rs 5000.
It helps to make ownership of the industrial projects more broad based.
The Professionals of NIT carryout research on the annual accounts of the company and the relevant information about the industry, and with their relevant analytical skills and appropriate tools, helps in investment decision making.
NIT's mission is to meet investor's diverse income & liquidity needs by creating appropriate funds and act as his prime investment institution; to offer best possible return on his investment and provide the investor prompt & efficient service. We hope that NIT goes on keeping the high record of success in its investment deeds in years to come.