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07-01-2016, 03:47 AM
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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. أكثر... 
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