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Karachi, July 05, 2012 (PPI-OT): National Investment Trust Limited (NITL), the first and largest Asset Management Company of Pakistan has declared outstanding results along with remarkable payouts for all Funds under its management for the year ended 30th June 2012.
This was stated by Chairman/Managing Director – NIT, Mr. Wazir Ali Khoja in a press release issued by NITL on July 05, 2012 after its Board of Directors approved the annual accounts of all Funds under its management. MD-NIT further stated that as of 30th June 2012, NIT is managing 5 Funds with net assets under management of around Rs. 74,152 million.
NI(U)T Fund
NIT has declared a dividend @ Rs. 3.50 per unit for unit holders of NI(U)T for the year ended June 30, 2012 as compared to Rs. 4.0 per unit for the year ended on 30th June 2011. The payment of dividend @ Rs. 3.50 per unit would involve a huge cash payout of Rs. 4,798 million among its unit holders.
MD – NIT stated that the Fund has registered a healthy growth of 69.6% in realized capital gains which increased to Rs. 1,439 million during the year ended on 30th June 2012 from Rs. 848 million for the year ended June 30, 2011. Furthermore, the dividend income earned also increased by 25% to Rs. 2,421 million in FY12 against Rs. 1,931 million earned in FY11.
During FY12, NI(U)T Fund has earned a net income (excluding unrealized figures) of Rs. 5,664 million translating into an earnings per unit of Rs. 4.13.
The NAV per unit of NI(U)T increased from Rs. 28.14 as on June 30, 2011 (Ex Dividend) to Rs. 30.27 as on June 30, 2012, thus generating a total return of around 7.6% against the benchmark (KSE-100) return of 10.45%.
NIT State Enterprise Fund (NIT-SEF)
While referring to the results of NIT-SEF for the year ended June 30, 2012, the MD-NIT stated that NITL has declared a bonus @ 9.30% on the face value of Rs. 50/- for the unit holders of NIT-SEF.
MD – NIT further stated that in FY12, the Fund realized capital gains of Rs. 1,658 million as compared to Rs. 1,252 million last year showing a healthy growth of 32%, whereas, the dividend income earned by the Fund in FY12 stood at Rs. 1,259 million as against 1,342 million earned during the previous year. He stated that the Fund has earned a Net Income (without impairment) of Rs. 1,552 million for the year ended 30th June 2012 which translates into per unit earning of Rs. 5.51.
The Net Asset Value of units of NIT-SEF increased by 6.1% YoY from Rs. 84.21 as on June 30, 2011 (Ex-Dividend) to Rs. 89.32 as on June 30, 2012 compared to the benchmark KSE-100 index which increased by 10.45% during the period under review. However, since inception till 30th June 2012, NIT-SEF has significantly outperformed the benchmark index by 24.5%.
MD-NIT informed that during the year NITL has repaid Rs. 5.0 billion to one of the lenders of NIT-SEF from its internally generated cash, thereby reducing the financing facility from Rs. 17.2 billion to Rs. 12.2 billion and hence reduction in Government Guarantee from earlier Rs 20 billion to Rs 12.2 billion. He further informed that Government of Pakistan (GOP) has approved to extend its guarantee for another 2 years.
NIT – Equity Market Opportunity Fund (NIT-EMOF)
While unveiling the results of NIT-EMOF, MD-NIT informed that the Board has declared a bonus of Rs. 6.75 per unit for its unit holders for the year ended June 30, 2012.
During the period under review, the Fund’s net profit (without impairment) grew by 42.2% YoY to Rs. 831 million against Rs. 584 million in the corresponding period of last year, translating into an earning per unit of Rs. 17.50 and Rs. 12.44 respectively.
The Fund has realized a capital gains of Rs. 433 million in FY12 as compared to the capital gains of Rs. 226 million realized in FY11, thus depicting a YoY growth of 91.6%. Similarly, the dividend income earned by the Fund increased by 14.8% to Rs. 357 million in FY12 against Rs. 311 million in FY11.
NIT-EMOF has outperformed its benchmark by a sizeable margin of 7.59% during FY12 where the NAV of the Fund increased by 18.04% against the benchmark KSE-100 increase of 10.45%.
The Chairman also stated that during the period under review another 10% redemption of unit holding were offered and a redemption amount of Rs. 551 million was paid to unit holders. Thus, so far unit holders have been offered 50% redemptions of their respective unit holding since inception of the Fund.
NIT Government Bond Fund (NIT-GBF)
MD – NIT informed that NIT has declared a per unit distribution of Rs. 1.1094 for unit holders of NIT-GBF for the year ended 30th June 2012 as compared to the per unit distribution of Rs. 1.0201 for the year ended 30th June 2011. Those who have opted for growth units with the option to receive bonus will be allocated 11.1241 units per 100 units at the ex-dividend NAV.
During FY12, the Fund has earned a net income of Rs. 315 million as compared to Rs. 305 million in FY11. Net income translates into per unit earning of Rs. 1.21 as compared to Rs. 1.03 per unit last year.
The NAV of NIT-GBF increased from Rs. 10.0968 (Ex dividend) as on June 30, 2011 to Rs. 11.0823 as on June 30, 2012, thus yielding an annualized return of 9.76% compared to the benchmark return of 10.64%. Further, since its inception, NIT-GBF earned an annualized return of 11.45% against the benchmark return of 10.85%.
NIT Income Fund (NIT-IF)
For NIT-IF, NIT declared a per unit distribution of Rs. 1.1065 for FY12 as compared to per unit distribution of Rs. 1.0581 for FY11. Those who have opted for growth units with the option to receive bonus will be allocated 10.7531 number of units per 100 units at the ex-dividend NAV.
During FY12, the Fund earned a net income of Rs. 283 million as compared to Rs. 207 million earned in the previous year. This net income translates into per unit earning of Rs.1.46 as compared to Rs.1.10 per unit in FY11.
The NAV of NIT-IF increased from Rs. 10.1448 (Ex-Dividend) as on 30th June 2011 to Rs. 11.3966 as on June 30, 2012, thus, yielding an annualized return of 12.34% compared to the benchmark return of 12.38%. While since its inception, NIT-IF has earned an annualized return of 12.81% against the benchmark return of 12.80%.
MD-NIT informed that NIT has launched a campaign to create awareness among general public about mutual funds. In this respect, NIT sets up kiosks throughout the year in leading shopping malls and in mega events nationwide.
He further stated that number of days to meet redemption requests has significantly been reduced and in order to further facilitate its investors, NIT has introduced an ATM based redemption facility which allows investors to redeem its units without any loss of time and hassle of paper based documentation.
While disclosing its future plans, he informed that in order to facilitate its unit holders a state of the art Investors facilitation centre has been established and would soon be inaugurated which would provide additional services to its unit holders. He also indicated that NIT is in the process of setting up a call centre which would provide round the clock information/ facilities to its existing as well as potential investors. For fast and easy access, separate Toll Free Number is being acquired for Investors Facilitation Centre.
During the last 15 months, NIT opened 3 new branches, two in Lahore and one in Karachi. With the addition of these three branches, the nationwide distribution network now comprises of 22 NIT branches. Opening of few more branches is in pipeline and would hopefully start their operations in next fiscal year. He also revealed that NIT is working on new products and would soon be introducing new schemes to cater the needs of investors.
The Chairman and MD – NIT stated that on 12th November 2012, NIT would be completing 50 years of its asset management services to its unit holders. While referring to the Golden Jubilee of its services, MD – NIT said that it is matter of great pleasure to inform that since its launch in 1962, NIT has never missed dividend for a single year. In Mutual Fund Industry, NIUT holds and maintains the largest equity portfolio not only in terms of size but also in terms of number of companies. As on 30th June 2012, the number of unit holders of NIT stood at around 57,000.
NIT, being pioneer in the mutual fund industry, fully understands its Corporate Social Responsibilities and has been playing its role towards poor/needy/neglected people by contributing generously.
While progressing by leaps and bounds, NIT did not forget its employees and introduced Hajj Scheme for its employees so that they could perform the spiritual obligations without any financial burden.
At the end, MD-NIT assured that, as per its past practice, NIT would continue playing a vital role in the development of capital markets and mutual fund industry as first and largest asset management company of Pakistan.
For more information, contact:
Hussain M. Odhwani
Manager – Brand and Media Management
National Investment Trust Limited
6th Floor NBP Building
I.I.Chundrigar Road
Karachi
UAN: 111-648-648 Ext: 215