National Investment Trust Limited (NIT) is the pioneer Asset Management Company in Pakistan, established in 1962, under the sponsorship of the Govt. of Pakistan. Presently, NIT is managing following seven Funds with net assets under management of approximately Rs. 97 billion catering the needs of around 55,413 unit holders as on July 31st, 2018:
NI(U)T is an open-end equity Fund constituted through a Trust Deed dated 12th November, 1962 executed between National Investment Trust Limited (NITL) being an Asset Management Company and National Bank of Pakistan (NBP) being Trustee to the Fund. The Fund primarily invests in equities listed on the stock exchanges of Pakistan.
Recently, Central Depository Company of Pakistan Limited (CDCPL) has been appointed as the new Trustee of NIUT Fund with the approval of Regulatory Authority. The change has been finalized vide 7th supplemental Trust Deed dated 1st April, 2014 executed between National Investment Trust Limited (NITL) as Management Company and Central Depository Company of Pakistan Limited (CDCPL) as Trustee with effect from 16th May, 2014.
NI(U)T Fund primarily invests in equity securities listed on the stock exchanges of the country, while NIT GBF invests primarily in Government issued securities, and NIT IF invests in a diversified base of high quality fixed income securities. Further, being an equity fund, the expected return is higher than that of fixed income funds, albeit with a higher level of risk.
The objective of NI(U)T is to maximize total returns for Unit holders, provide a regular stream of income through dividends and generation of capital gains, provide long term growth through management of a diversified portfolio and invest into growth and high yielding equity securities.
Registration and Investment Forms are available at NIT’s website www.nit.com.pk . You can also get these forms from Registered Office or any nearest branch of NIT.
Procedure for redemption of units is quite simple. Just fill in the prescribed form and submit the same along with required documents (if any) to respective branch of NIT.
Latest account information can be obtained from your branch against written request. You can also avail the facility of online account access through NIT’s website i.e. www.nit.com.pk
NIT IF is an open-end Income Fund constituted through a Trust Deed dated September 17, 2009 executed between National Investment Trust Limited (NITL) being an Asset Management Company and Central Depository Company of Pakistan Limited (CDC) being Trustee to the Fund. The Fund primarily invests in diversified portfolio comprising of fixed income securities/instruments.
NIT GBF primarily invests in securities issued by Government of Pakistan, whereas, NIT IF invests in diversified high quality fixed income securities/instruments.
The objective of NIT IF is to generate competitive stream of returns with moderate level of risk for its unit holders, by investing primarily in portfolio of fixed income securities with weighted average time to maturity not exceeding four (4) years.
The Unit value grows in line with the growth in the NAV, and the Unit Holders shall have the option to receive distribution income in the form of cash or reinvestment of dividend.
Income Units:
The Unit Holder, based on their own consent/instructions and with prior intimation to the Management Company, may exercise the option of redeeming a certain number of Units for fulfilling their requirement of a certain cash amount at Regular Intervals (i.e. monthly, quarterly, semi-annually or annually). Such instructions shall be given in writing at the beginning of any Regular Interval or at the time of purchase of Units. In case of distribution i.e. dividend, only units will be issued. Income Units fall under further two categories:
Flexible Income Units
Fixed Income Units
Flexible Income Units - The Flexible Income Unit Holders shall, at the time of purchase or beginning of a Regular Interval, authorize the Management Company to decide the quantum of part redemption of their unit holdings at the end of every Regular Interval based on the performance (NAV growth) of the Fund during that Regular Interval.
Fixed Income Units - The Fixed Income Unit Holders shall, at the time of purchase or beginning of a Regular Interval, specify a fixed cash amount required by them at Regular Intervals and authorize the Management Company to redeem (at the prevailing NAV) such number of units from their holding that in rupee terms is equivalent to the specified fixed amount required at the end of every Regular Interval.
Registration and Investment Forms are available at NIT’s website www.nit.com.pk. You can also get these forms from Registered Office or any nearest branch of NIT.
Investor can open an account with minimum amount as small as Rs. 5,000/. However, different classes of units require different amount of initial and subsequent investments.
Procedure for redemption of units is quite simple. Just fill in the prescribed form and submit the same along with required documents (if any) to respective branch of NIT.
Offering Document can be downloaded from NIT’s website www.nit.com.pk or it can be inspected at the registered office of NIT or CDC or any branch of NIT.
Latest account information can be obtained from your branch against written request. You can also avail the facility of online account access through NIT’s website i.e. www.nit.com.pk
NIT GBF is an open-end Income Fund constituted through a Trust Deed dated September 04, 2009 executed between National Investment Trust Limited (NITL) being an Asset Management Company and Central Depository Company of Pakistan Limited (CDC) being Trustee to the Fund. The Fund primarily invest in securities where the issuer is Government of Pakistan
NI(U)T falls under “Equity Fund” category while NIT GBF and NIT IF are income funds, which make investments primarily in Government Securities and Fixed income Securities/ Instruments respectively.
The objective of NIT Government Bond Fund is to generate best possible return with minimum risk, for its Unit Holders, by investing primarily in the Government Securities
The performance of NIT GBP would be compared against the benchmark based on 70% average of weighted average yields of 6 months T-Bills auctions held during the period and, 30% of average of most recently published 1 month deposit rates of “A” and above rated schedule banks
Growth Units: The Unit value grows in line with the growth in the NAV, and the Unit Holders shall have the option to receive distribution income in the form of cash or to reinvest dividend, in case of cash distribution.
Income Units: The Unit Holders, based on their own consent & instructions and with prior intimation to the Management Company, may exercise the option of redeeming a certain number of Units for fulfilling their requirement of a certain cash amount at Regular Intervals (i.e. monthly, quarterly, semi- annually or annually). Such instructions shall be given in writing at the beginning of any Regular Interval or at the time of purchase of Units
Income Units fall under further two categories
Flexible Income Units
Fixed Income Units
Flexible Income Units – The Flexible Income Unit Holders shall, at the time of purchase or beginning of a Regular Interval, authorize the Management Company to decide the quantum of part redemption of their unit holdings at the end of every Regular Interval based on the performance (NAV growth) of the Fund during that Regular Interval.
Fixed Income Units – The Fixed Income Unit Holders shall, at the time of purchase or beginning of a Regular Interval, specify a fixed cash amount required by them at Regular Intervals and authorize the Management Company to redeem (at the prevailing NAV) such number of units from their holding that in rupee terms is equivalent to the specified fixed amount required at the end of every Regular Interval
Procedure for investing in NIT GBF is very simple. Fill-in the prescribed Form and submit it along with payment instrument drawn in favor of “CDC-Trustee NIT Government Bond Fund” and necessary documents at your nearest NIT Branch
Registration and Investment Forms are available at NIT’s website www.nit.com.pk . You can also get these forms from Registered Office or any nearest branch of NIT
Investor can open an account with minimum amount as low as Rs. 5,000/. However, different classes of units required different amount of initial and subsequent investment
Process for redemption of units is quite simple. Just fill in the prescribed Form and submit the same along with required documents (if any) to respective branch of NIT
Offering Document can be downloaded from NIT’s website www.nit.com.pk or it can be inspected at the registered office of NIT or CDC or any branch of NIT
Any investor or any related group of investors qualified or authorized to purchase the Units may make applications for the purchase of units in the Fund.
Citizen of Pakistan resident in Pakistan. In respect of minors below 18 years of age, applications may only be made by their guardians.
Companies, corporate bodies, financial institutions, banks, partners of a firm and societies incorporated in Pakistan provided such investment is permitted under their respective memorandum and articles of association and / or bye-laws.
Pakistanis resident abroad, foreign nationals and companies incorporated outside Pakistan can apply for Units subject to the regulations of the State Bank of Pakistan and the Government of Pakistan and any such regulations and laws that may apply to their place of residence, domicile and citizenship.
Sales Load/ Sales Charge is the amount charged to the investor at the time of investment. Currently, it is charged at the rate of 2 percent of Net Asset Value (NAV) of the Fund. It is also called Front End Load.
Islamic Equity Fund is a Shariah Compliant Mutual Fund. Its investments, operations and trading practices etc. are overseen by a Shariah Advisor to ensure that the fund is being operated as per Shariah Compliant principles.
At the end of each Annual Accounting Period or such other interval as the Commission may require, the Shariah Advisor shall issue a certificate to be included in the Annual reports or such other report in respect of the Shariah compliance of the preceding year’s or past operations of the Fund.
Yes. Tax credit will be available to all participants on investments during the tax year subject to the limits prescribed under the Income Tax Ordinance, 2001 (XLIX of 2001).
NIT Money Market Fund (NIT-MMF) (formerly NIT-GTF) is an open-end Money Market Fund launched in January 2016. It invests in short-term government securities, bank placement and other money market instrument, providing relatively superior returns with minimal risk.
NIT-MMF (formerly NIT-GTF) is a Money Market Fund. The other Funds vary in terms of type and maturity of the assets that they invest in (e.g. equities, fixed income instruments of longer maturities, Shariah compliant securities only, etc). They also fall into the categories of Equity, Income or Pension Schemes.
The Benchmark of NIT-MMF (formerly NIT-GTF) for any period of return will be a 70/30 composition as follows:
- 70% that would be an average of “3 Month PKRV rate” as available through Reuters and Financial Markets Association of Pakistan (FMA). - 30% that would be an average of “3-Month Term Deposit Rates (TDR) of AA and above rated scheduled banks” for the period of return
NIT-MMF (formerly NIT-GTF) takes your money and combines it to form a pool of funds. This combined money, taken from all investors, is then used to purchase highly liquid, low-risk, government securities and money market securities. The income generated from these securities (minus Management Fee) is what makes up your return or profit.
NIT-MMF(formerly NIT-GTF) invests primarily in sovereign securities that are backed by the Government of Pakistan. As instruments are issued by the GoP, they have minimal credit risk.
NIT-MMF (formerly NIT-GTF) is an Open-End fund. This means that you can buy and sell units as and when you please.
The current price of your unit is called the Net Asset Value (NAV). This price at which you can buy additional units, or sell your existing units, is calculated daily and can be seen at www.nit.com.pk.
- a Pakistani citizen resident in Pakistan. - a Pakistani citizen residing abroad* - foreign national * - a company, corporate body, financial institution, bank, or firm incorporated in Pakistan* - a company, corporate body, financial institution, bank, or firm incorporated abroad*
* Subject to SBP and GoP regulations, and any laws that apply to the investor's place of residence, domicile and citizenship.
- a copy of your CNIC - completed Investor Application Form (available at the Registered Office, all branches, and online at nit.com.pk - your payment by cheque, bank draft, pay order or online transfer in favour of “CDC- Trustee NIT Money Market Fund”. - You will then be assigned units in lieu of your investment amount.
Registration and Investment Application Forms are available at NITL’s website www.nit.com.pk. These are also available at the Registered Office and all branches of NITL.
Investing in NIT-MMF (formerly NIT-GTF) will mean:
- professional management of your investment by a team of seasoned fund managers - tax benefits as per applicable laws - the ability to invest in smaller denominations with a minimum investment size of PKR 500 - the facility to redeem your investment units on a daily basis - competitive returns from low- risk Government securities - risk diversification - no minimum holding period
Growth Units: The Unit value grows in line with the growth in NAV, and the Unit Holders shall receive additional units at prevailing price, after adjusting for taxes against Cash Dividend (if any) at the time of distribution.
Income Units: The Unit value grows in line with the growth in NAV, and the Unit Holders shall receive distribution income in the form of cash, if any distribution announced by the Fund.
There is no Front-End Load (charge) for investing in NIT-MMF (formerly NIT-GTF). All your money will be converted into NIT-GTF units at the prevailing NAV. So you will not need to pay additional charges at the time of investment.
During the course of your investment, you will be charged a Management Fee of 7.5% of Gross Annualized Earnings per annum, subject to a cap of 1% of Average Annual Net Assets, that will be deducted from your total return.
NIT-Islamic Income Fund (NIT-IIF) is an open-end Shariah Compliant (Islamic) Income Fund. It invests in a diversified portfolio of Shariah Compliant instruments.
NIT-IIF is a Shariah Compliant Income Fund. This means that the fund invests in assets such as Government securities (IjarahSukuk) and Islamic bank products. The other Funds vary in terms of type and maturity of the assets.
NIT-IIF takes your money and combines it to form a pool of funds. This combined money, taken from all investors, is then used to purchase an assortment of Islamic income securities, to earn the best possible returns. The income generated from these securities (minus Wakalah Fee / Management Fee& other expenses) is what makes up your profit.
NIT-IIF invests primarily in Shariah compliant instruments. Islamic Government securities such as Ijarah Sukuks are backed by the Government of Pakistan, and therefore have minimal credit risk. Other instruments purchased will be from Islamic banks with high credit ratings.
NIT-IIF is an Open-End fund. This means that you can buy and sell units as and when you please. The current price of your unit is called the Net Asset Value (NAV). This price at which you can buy additional units, or sell your existing units, is calculated daily and can be seen at www.nit.com.pk.
Registration and Investment Application Forms are available at NIT’s website www.nit.com.pk. These are also available at the Registered Office and all branches of NIT.
There is no Front-End and Back-End Load in NIT-IIF. However, during the course of your investment, you will be charged Wakalah Fee (Management Fee) of 7.5% of Gross Earnings of the fund, subject to a minimum fee of 0.25% p.a and maximum fee of 1% p.a of Average Annual Net Assets
CRS – Client Reporting System is a service for NIT’s unit holders to view their account statement under NI(U)T Fund, NIT Government Bond Fund, NIT Income Fund and NIT Government Treasury Fund through NIT’s website.
Fill in the NIT-CRS form along with contact details, sign as per account operating instructions and submit it at your concerned branch. NIT-CRS Form, is available at NIT Branches or you can download it from NIT’s website.
Check your login ID and password or contact NIT on
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or call (+92-21) 111-648-648 for technical support.
At present, the CRS facility can be used to access account statement, only. Before use please read carefully terms and conditions on CRS form available in Download section of at Investor Forms on NIT’s website.
