KARACHI: National Investment Trust Limited (NITL) has introduced Pakistan’s first Social Impact Fund (NIT-SIF) to ensure social betterment in the country by making its portfolio more diverse and meaningful for its customers and the country.
The Initial Public Offering of NIT-SIF will run from May 11 to May 13, 2022. It is an open-end Micro Finance Sector Income Fund Scheme that will channelise funds of impact investors to leverage on the strengths of rated asset pool of Micro-Finance Sector, for maximization of double bottom line financial returns and catalyze financially sustainable social impact.
The Micro-Finance Sector specific fund will be primarily dedicated to finance strategic and financially sustainable social initiatives such as women empowerment, agriculture value chains, MSME development, low cost renewable energy and low cost housing schemes through microfinance banks/institutions and any instrument with same objective issued by other financial institutions.
Commenting on the launch of the Social Impact Fund, Adnan Afridi, Managing Director, NITL, said that NITL was playing its due role in bringing economic and social stability to the country through responsible investments.
He said that the funds managed by NITL are playing an important role in the economic and social development of the country as well as providing attractive returns to its investors. With the launch of the NIT Social Impact Fund (NIT-SIF), NITL’s portfolio has expanded to 14 funds, reflecting NITL’s commitment to diversifying its portfolio and expanding the choice of retail investors in mutual funds.
Copyright Business Recorder, 2022
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