The National Investment Trust (NIT) is set to launch NIT-Islamic Income Fund (NIT-IIF) from July 4, during the holy month of Ramzan.
The fund has been introduced to meet the growing demand for Shariah Compliant Investment products. This is the Third Shariah Compliant Fund, which has been added to the collection of funds offered by the company. The new fund is an open-ended fund which will be invested in Shariah Compliant instruments, ideally to cater to the requirements of those investors who wish to earn Riba Free Halal Income while seeking maximum possible preservation of their capital.
The fund will be invested in diversified portfolios of Shariah Compliant fixed income and money market investments, duly supervised by the Shariah advisor.
Prior to this, the NIT had launched NIT-Islamic Equity Fund (NIT-IEF) and NIT Islamic Pension Fund (NIT-IPF).
NIT manages funds of around Rs 91 billion belonging to over 55,000 investors. NIT operates 23 branches nationwide.
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