National Investment Trust Limited (NITL) Historical information & Financials

An open end mutual fund falls under the category of Investment Intermediaries that consist of a group of institutions whose primary purpose is to provide portfolio management services to individual and institutional investors.

An open end mutual fund is an intermediary that issues instruments representing pro rata ownership in a pool of assets. Mutual funds provide professional portfolio management skills and asset diversification for investors through the pooling of funds. Investment (Units) can be redeemed at any time at a price that is tied to the asset value of the fund.

Generally speaking the open ended mutual fund has been internationally one of the most successful financial intermediary structures measured by growth in assets.

The GOP presently owns 8.33% of NITL's shares directly and 33.3% shares indirectly through government controlled entities. 8.33% shares is owned by each UBL, HBL, PICIC and MCB while 25% of NITL shares are held by three industrialists in equal proportions.

The NITL transaction is in process and has been advertised. NITL itself is not being privatized but the Fund (NIUT) under NITL's management will be split and management rights of the Funds will be sold to pre qualified bidders through a competitive bidding process. After the split, each of the funds will continue to constitute a significant portion of the Mutual Fund sector in Pakistan