NIT launches Islamic Income Fund
 

KARACHI: The National Investment Trust Limited is launching NIT-Islamic Income Fund (NIT-IIF), effective from July 4, a statement said on Thursday.

The fund is being introduced to meet the growing demand for Shariah-compliant investment products, it said.

This is the third Shariah-compliant fund, which has been added to the family of funds offered by the company.

The new fund is an open-ended, 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, it said.

“The fund would be invested in diversified portfolios of Shariah-compliant fixed income and money market investments, duly supervised by the Shariah adviser.”

Prior to this, NIT had launched NIT-Islamic Equity Fund (NIT-IEF) and NIT Islamic Pension Fund (NIT-IPF).

NIT manages funds of around Rs91 billion with more than 55,000 investors. It operates 23 branches nationwide, a centralised investors’ facilitation centre in Karachi and Abbottabad, Sarmayakari Markaz to assist existing unit holders and new investors interested in NIT’s New Islamic Income Fund.

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