Pakistan’s largest asset management company National Investment Trust (NIT) has announced launching a new open end money market fund, NIT-GTF (NIT Government Treasury Fund).
This Fund is intended to channelize the savings of investors into more secure investments such as Treasury Bills (T-Bills) and other shorter period instruments, in an attempt to offer better returns to investors.
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.
The offering of NIT-GTF units will start from January 22, 2016 with an initial investment amount of Rs1,000. There is no Front End or Back End Load for the Fund.
NIT-GTF provides tax benefits to its investors as per the provisions of Clause 62 of the Income Tax Ordinance, 2001.
NIT is the pioneer of the Asset Management Industry in Pakistan. It boasts of a strong presence spanning 52 years, with NI(U)T as its flagship Fund, and other funds in the Islamic Fund and Income Fund categories as well.