All funds under management of National Investment Trust have posted good earnings while outperforming their respective benchmarks comprehensively. This was stated by the Chairman and MD, NIT, Mr Wazir Ali Khoja, while announcing the results of all funds under NIT management for the quarter ended September 30, 2011.
NI(U)T Fund
During 1QFY12, the fund outperformed its benchmark by 4.81 per cent, whereby the Fund’s NAV decreased by 1.07 per cent from Rs28.14 (Ex-Dividend) as on 30.06.11 to Rs27.84 as on Sept 30, against a decrease of 5.87 per cent in the benchmark KSE-100 Index. During 1QFY12, NI(U)T registered a net profit (excluding unrealised figures) of Rs1770 million translating into an earning per unit of Rs1.33 compared to Rs2,183 million in 1QFY11 translating into an earning per unit of Rs1.85.
The Chairman also stated that during the period under review, dividend income earned by the fund grew by 15.9 per cent YoY and stood at Rs406 million as compared to Rs351 million in the corresponding period last year. The fund realised capital gains of Rs129 million in 1QFY12 against Rs170 million in 1QFY11.
NIT-State Enterprise Fund (NIT-SEF)
Referring to the result of NIT-SEF, the chairman said during 1QFY12, the fund outperformed its benchmark by 2.11 per cent. Furthermore, since inception on Jan 13, 2009, until Sep 30, 2011, the fund massively outperformed its benchmark by 40.4 per cent. During the period under review, the fund earned a net profit of Rs1,188 million translating into an earning per unit of Rs3.79 against a net profit of Rs1,833 million in 1QFY11, translating into an earning per unit of Rs6.18. The fund realised capital gains of Rs125 million and earned a dividend income of Rs179 million compared to Rs165 million and Rs225 million respectively in the corresponding period last year.
Equity Market Opportunity Fund
While presenting the financials of NIT-EMOF, the chairman said NIT-EMOF outperformed its benchmark by a good margin of 5.55 per cent. During the period under review, the fund has earned a net profit of Rs101 million translating into earning per unit of Rs1.86 as compared to net profit of Rs80 million translating into earning per unit of Rs1.71 last year. During 1QFY12, the fund also earned a dividend income of Rs70 million and realised capital gains of Rs44.07 million compared to Rs44.56 million and Rs26.66 million respectively in the corresponding period last year.
NIT Government Bond Fund (NIT GBF)
During 1QFY12, NIT GBF earned a net income of Rs67.7 million which translates into earnings per unit of Rs0.2754 as compared to net income of Rs73.6 million translating into earnings per unit of Rs0.2550 in the same period last year. During first quarter FY12, the fund yielded an annualised return of 12.67 per cent against the benchmark rate of 11.60 per cent, hence outperforming the benchmark by 107 bps.
NIT Income Fund (NIT IF)
During 1QFY12, NIT IF earned a net income of Rs60.25 million which translates into earnings per unit of Rs0.3458 as compared to net income of Rs53.69 million, translating into earnings per unit of Rs0.2727 in the same period last year. During first quarter FY12, the fund yielded an annualised return of 14.37 per cent against the benchmark rate of 13.51 per cent, hence outperforming the benchmark by 86 bps.
