NITL launches new fund

KARACHI: The National Investment Trust Limited (NITL) has successfully launched its new fund Asset Allocation Fund (NIT-AAF), a statement said.

Experienced fund managers of NIT Funds would allocate investments between equity and debt markets as per the market conditions to achieve competitive returns in volatile market conditions, it added.

Investors can invest with an amount as low as Rs5,000, while the subsequent investment can be with Rs1,000. The Asset Allocation Fund will be actively allocated between equities, fixed income instruments and money market instruments.

The fund will help investors achieve optimal returns with additional benefits such as low management fee, professional fund management expertise, no minimum holding period, ease of redemption, applicable tax benefit and no penalty on withdrawal, it said.

To facilitate its more than 55,000 unit holders, NIT has a strong nationwide distribution network, which comprises 27 online branches, investors’ facilitation centre and a customer care call centre. NITL had recently launched Pakistan’s First Exchange Traded Fund (NIT-PGETF) in March, which can be traded on PSX like any other stock. With the launching of Asset Allocation Fund, NITL now has 12 funds under management, it added.