Channelising Investment: NIT to launch open-end money market
The offering of NIT-GTF units will start from January 22 with an initial investment amount of Rs1000
KARACHI:
Pakistan’s asset management company, National Investment Trust (NIT), is launching a new open-end money market fund, a statement said on Monday. The state-owned NIT will launch NIT Government Treasury Fund, or NIT-GTF, which will channelise the savings of investors into relatively secure investments, such as treasury bills and other shorter-period instruments. NIT is the oldest asset management company in Pakistan with a history of 52 years. Its assets under management amount to Rs77.8 billion, which is a little over 17% of the total industry size. “The launch of NIT-GTF is an attempt to expand NIT’s suite of existing products with a view to cater to the needs of its existing and potential customers,” it said. The offering of NIT-GTF units will start from January 22 with an initial investment amount of Rs1000. There will be no front-end or back-end load for the fund.
Published in The Express Tribune, January 19th, 2016.
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