NI(U)T has registered a phenomenal growth of 143 percent in net profit (excluding unrealized figures) while NIT-SEF has earned a net profit of Rs 2,061 million (earning per unit of Rs 7.04).
NIT-EMOF has also earned a net profit of Rs 215 million, translating into a per unit earning of Rs 4.58 whereas the net income of NIT GBF stood at Rs 139.2 million which translates into earning per unit of Re. 0.45 and NIT IF earned a net income of Rs 95.6 million which translates into earning per unit of Re. 0.48. The Chairman and MD, NIT, Wazir Ali Khoja stated this while announcing the results of all funds under its management for the half year ended on December 31, 2010.
NI(U)T FUND: During 1HFY11, NI(U)T has registered a phenomenal growth of 143 percent in net profit (excluding unrealized figures), which increased to Rs 2,762 million (earning per unit of Rs 2.35) from Rs 1,135 million in 1HFY10 (earning per unit of Rs 1.09). During 1HFY11, the Fund's NAV increased by 21.22 percent from Rs 25.92 (Ex-Dividend) as on 30.06.10 to Rs 31.42 as on 31.12.10 against an increase of 23.66 percent in the benchmark KSE-100 Index.
The Chairman also stated that during this period, the Fund realized capital gains of Rs 440 million against capital gains of Rs 407 million realized in 1HFY10, thereby depicting a decent growth of 8.2 percent. The Fund has earned a dividend income of Rs 911 million, up by 30 percent, as compared to Rs 702 million in the corresponding period last year. Furthermore, during 1HFY11, NI(U)T's gross sale (including CIPs) grew exceptionally at 131 percent to Rs 5,039 million. For the period 1HFY11, units worth Rs 2,445 million were redeemed to the utmost satisfaction of unit holders without any recourse to the borrowing which is a record at least during the last ten years. During the period under review, 3,224 new accounts were opened, thereby increasing the total number of unit holders of NIT to 58,350. This shows the growing confidence of investors in NIT.
NI(U)T-LOC HOLDERS FUND As per the agreed settlement plan, NIT has already transferred almost the entire portfolio of NIUT-LOC Holders Fund to its four unit holders. The balance of portfolio lying in the Fund represents the strategic/frozen portion comprising shares of PSO and SNGPL, which is likely to be settled shortly.
NIT-STATE ENTERPRISE FUND (NIT-SEF) Referring to the result of NIT-SEF, the chairman said that during 1HFY11, the Fund has earned a net profit of Rs 2,061 million (earning per unit of Rs 7.04) against the net profit of Rs 1,081 million earned by the Fund in the corresponding period of last year, thus showing an outstanding growth of 90.6 percent.
During the period under review, the Fund earned a dividend income of Rs 437 million as against the dividend income of Rs 433 million earned in 1HY10. The Fund realized capital gains of Rs 479 million in 1HFY11 whereas no capital gain was realized during 1HY10.
The NAV of the Fund increased by 20.65 percent from Rs 83.41 (Ex-Dividend) to Rs 100.63 during 1HFY11, whereas the NAV increased by 151.30 percent since inception on 13.01.09 until 31.12.10, compared to an increase of 98.42 percent in the same period in KSE-100 Index, thus outperforming its benchmark by about 53 percent.
NIT-EQUITY MARKET OPPORTUNITY FUND (NIT-EMOF) The Chairman said that during 1HFY11, the NIT-EMOF has earned a net profit of Rs 215 million, translating into a per unit earning of Rs 4.58. Furthermore, during 1HFY11, the Fund's dividend income and capital gains stood at Rs 133 million and Rs 98 million respectively. The NAV of the Fund increased by 23.63 percent from Rs 98.33 (Ex-Dividend) as on 30.06.10 to Rs 121.57 as on 31.12.10 which is in-line with the increase in benchmark of KSE-100 Index.
NIT GOVERNMENT BOND FUND (NIT GBF) During 1HFY11, NIT GBF earned a net income of Rs 139.2 million, which translates into earning per unit of Re. 0.45. Its nets assets as on 31.12.10 were of Rs 2,792 million. The Fund's NAV increased from Rs 9.9980 (Ex Dividend) to Rs 10.5196 during 1HFY11, thus yielding an annualised return of 10.61 percent whereas, since its inception on 18.11.09 till 31.12.10, NIT GBF has earned an annualized return of 10.70 percent.
NIT INCOME FUND (NIT IF) During 1HFY11, NIT IF earned a net income of Rs 95.6 million which translates into earning per unit of Re. 0.48. Its nets assets as on 31.12.10 were of Rs 1,851 million. The Fund's NAV increased from Rs 9.9938 (Ex Dividend) to Rs 10.5580 during 1HFY11, thus yielding an annualized return of 11.51 percent whereas, since its inception on 19.02.10 till 31.12.10, NIT IF has earned an annualized return of 10.83 percent.-PR
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