KARACHI – National Investment Trust Limited has announced the results of all funds under its management for the half year ended on December 31, 2010. This was stated by the Chairman and MD Wazir Ali Khoja in an issued press release.
During 1HFY11, NI(U)T has registered a phenomenal growth of 143 percent in net profit (excluding unrealised figures), which increased to Rs 2,762 million (earning per unit of Rs 2.35) from Rs 1,135 million in 1HFY10 (earning per unit of Rs 1.09). During 1HFY11, the Fund’s Net Asset Value (NAV) increased by 21.22 percent from Rs 25.92 (Ex-Dividend) as on 30 June, 2010 to Rs 31.42 as on 31 December 2010 against an increase of 23.66 percent in the benchmark KSE-100 Index.
The chairman also stated that during this period, the Fund realised capital gains of Rs 440 million against capital gains of Rs 407 million realised in 1HFY10, thereby exhibiting a decent growth of 8.2 percent. The Fund has earned a dividend income of Rs 911 million, up by 30 percent, as compared to Rs 702 million in the corresponding period last year. Furthermore, during 1HFY11, NI(U)T’s gross sale grew exceptionally at 131 percent to Rs 5,039 million.
For the period 1HFY11, units worth Rs. 2,445 million were redeemed to the utmost satisfaction of unit holders without any recourse to borrowing which is at record levels for at least during the last ten years. During the period under review, 3,224 new accounts were opened, thereby boosting the total number of unit holders of NIT to 58,350. This shows the growing confidence of investors in NIT.
Referring to the result of NIT-State Enterprise Fund (NIT-SEF), the chairman said that during 1HFY11, the Fund has earned a net profit of Rs 2,061 million (earning per unit of Rs 7.04) against the net profit of Rs 1,081 million earned by the fund in the corresponding period of last year, thus showing an outstanding growth of 90.6 percent. During the period under review, the Fund earned a dividend income of Rs 437 million as against the dividend income of Rs. 433 million earned in 1HFY10.
The Fund realised capital gains of Rs 479 million in 1HFY11 whereas no capital gain was realised during 1HFY10. The NAV of the Fund increased by 20.65 percent from Rs 83.41 (Ex-Dividend) to Rs 100.63 during 1HFY11, whereas the NAV increased by 151.30 percent since inception on 13 January, 2009 until 31 December, 2010, compared to an increase of 98.42 percent in the same period in KSE-100 Index, thus outperforming its benchmark by about 53 percent.
