Assets under management crosses Rs1 trillion-mark: NIT managing director
ISLAMABAD: Adnan Afridi, managing director of the National Investment Trust Limited called on Finance Minister Shaukat Tarin and commended the ongoing developments in the macro policy framework, as it helped stimulate significant growth in the asset management industry; whereby, the total assets under management (AUMs) crossed Rs1 trillion-mark in the outgoing fiscal year, posting a growth of nearly 65 per cent YoY.
Afridi also apprised the finance minister on the ongoing efforts of NITL in developing Pakistan’s “First Social Impact Fund (SIF)” that is primarily dedicated to the 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.
Afridi also highlighted the synergies that could be created between NIT’s “Social Impact Fund” and “Kamyaab Pakistan Programme”.
NIT–SIF and KPP will go hand-in-hand by introducing mission-oriented low-cost capital for the lower income strata of the society through requisite assets supply and lending structures.
Finance Minister Tarin praised the NIT’s efforts in addressing the financial inclusion gap with such innovative and pioneering platforms and expressed confidence that the investors will be attracted to the double bottom-line offering of SIF.
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