Pakistan’s National Investment Trust Launches Islamic Money Market Fund NIT

According to a statement released on the 17th of September 2021, the National Investment Trust (NIT) has launched NIT - Islamic Money Market Fund (NIT-IMMF) with the initial public offering date of the fund set for the 20th to 22nd of September 2021.

Why it Matters?

The fund's objective is to meet the needs of investors who want to generate riba (interest)-free returns while preserving their capital to the greatest extent possible. It is an open-ended fund that aims to invest in diversified portfolios of Shariah-compliant money market and debt instruments in order to address the growing demand for Shariah-compliant investment products. According to Adnan Afridi, Managing Director at NIT, the new fund would cater to investors seeking short-term, low-ris...